BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mr. Sarmiento aims to have his investment grow to P500, 000 in 4 years. how much should he invest in an account that pays 5% compounded annually?
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411, 351.24
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607, 753.13
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389, 451
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745, 212.90
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Explanation:
Detailed explanation-1: -Summary: An investment of $10000 today invested at 6% for five years at simple interest will be $13, 000.
Detailed explanation-2: -Using the rule of 72, you would estimate that an investment with a 5% compound interest rate would double in 14 years (72/5).
Detailed explanation-3: -1 Answer. Joe D. It will approximately take 18 years 10 months.
There is 1 question to complete.