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5. Using ordinary interest, what is the future value on a P125,000.00 invested at
9% simple interest for 5 months. Assume that 1 month is equal to 30 days.
Solution:
Answer:

Sagot :

Leonardo098511go

Answer:

First, converting R percent to r a decimal

r = R/100 = 9%/100 = 0.09 per year.

Putting time into years for simplicity,

5 months / 12 months/year = 0.416667 years.

Solving our equation:

A = 125000(1 + (0.09 × 0.416667)) = 129687.50375

A = $129,687.50

Step-by-step explanation:

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