question archive You deposited PHP1,500 in a bank with an interest rate of 5% for 1 year
You deposited PHP1,500 in a bank with an interest rate of 5% for 1 year
Subject:BusinessPrice: Bought3
You deposited PHP1,500 in a bank with an interest rate of 5% for 1 year. What is the future value of your deposit? 2. You need to save up for P1,500 in 1 year. How much should you save now if the bank offers a rate of 5%? (Find the present value.) 3. You deposit PHP1,000 in your bank account. If the bank pays 4% simple interest, how much interest will you accumulate in your account after 10 years? 4. Using the question above, what if the bank pays compound interest?
