Topic "Compound & Simple Interest". Write the solution and box the final answer. The sum of P26,000 was deposited in a fund earning interest at 8% per annum compounded quarterly. What was the principal in the fund at the end of 3 years? Find the interest on Php 8,600.00 for 3 years at 11% simple interest. Find the interest on Php 8,600.00 for 3 years at 11% simple interest. The sum of P26,000 was deposited in a fund earning interest at 8% perquarterly. What was the principal in the fund atannum compoundedthe end of 3 years?

The accumulated amount using compound interest is calculated as, A=P(1+r)n P is the initial amount…

Answered: Topic "Compound & Simple Interest".…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

Topic "Compound & Simple Interest". Write the solution and box the final answer.

The sum of P26,000 was deposited in a fund earning interest at 8% per annum compounded quarterly. What was the principal in the fund at the end of 3 years?
Find the interest on Php 8,600.00 for 3 years at 11% simple interest.

Find the interest on Php 8,600.00 for 3 years at 11% simple interest.

The sum of P26,000 was deposited in a fund earning interest at 8% per
quarterly. What was the principal in the fund at
annum compounded
the end of 3 years?

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions