Parkchaeyoung07idn
Answered

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For numbers 16 to 18: Nora is thinking of investing an amount of P30,000 for 2 % years. Find the future value based on the following investments: 16. Simple interest of 8.5% 17.8.5% compounded annually 18. Which investment is better? Justify your answer.




solution po pls ​

Sagot :

Elaizacabaseidn

Answer:

16.35,100.00

Step-by-step explanation:

A = 35,100.00

I = A - P = 5,100.00

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 8.5%/100 = 0.085 per year.

Solving our equation:

A = 30000(1 + (0.085 × 2)) = 35100

A = 35,100.00

The total amount accrued, principal plus interest, from simple interest on a principal of 30,000.00 at a rate of 8.5% per year for 2 years is 35,100.00.