Engineering Board Exam Reviewer · Simple Interest · hard
Find the present value that must be invested now at 8% ordinary simple interest to accumulate to P10,000 in 200 days.
- P9,574.47
- P9,600.00
- P9,200.00
- P9,800.00
Answer
A. P9,574.47
Solution
A=P(1+rt) 10000=P≤ft(1+0.08≤ft(200/360 ) )=P(1.04444) P P9,574.47.
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