What interest compounded monthly is equivalent to an interest rate of 14

# What interest compounded monthly is equivalent to an

• Test Prep
• 131
• 96% (25) 24 out of 25 people found this document helpful

This preview shows page 130 - 131 out of 131 pages.

946.What interest compounded monthly is equivalent to an interest rate of 14% compounded quarterly A. 1.15% B. 13.84% C. 10.03% D. 11.52% 947.What is the worth of two P100,000 payments at the end of the third and the fourth year? The annual interest rate is 8%. 948.A firm borrows P2,000.00 for 6years at 8%. At the end of 6 years, it renews the loan for the amount due plus P2,000 more for 2 years at 8%. What is the lump sum due? 949.At an annual rate of return of 8%, what is the future worth ofP1,000 at the end of 4 years? 950.A student has money given by his grandfather in the amount of P20,000.00. How much money in the form of interest will he get if the money is put in a bank that offers 8% rate compounded annually at the end of 7 years? A. P 34,276.48 B. P 34,270.00 C. P 36,276.40 D. P 34,266.68 • • • 