BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You have received ₱10, 000 from an investment account in which you started investing five years ago. The initial investment will be:
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more than ₱10, 000
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less than ₱10, 000
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equal to ₱10, 000
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no option to choose
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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: -10, 000 for a period of one year, it is better to invest in a scheme that pays: 12% interest compounded annually.
Detailed explanation-3: -Hence, the amount will be Rs 13310.
Detailed explanation-4: -The future value of $10, 000 with 6 % interest after 5 years at simple interest will be $ 13, 000.
There is 1 question to complete.