Mathematics, 12.01.2021 18:00 lberries08
Simple and Compound Interest
Direction : Analyze the problem given below, illustrate the two investments and compare simple and compound interest.
1.Mr. Henry received his back pay from a work abroad and wanted to quit as an OFW. He received P150 000.00. He plans to invest it for 5 years. An ABC bank offers him with 2% simple interest rate per year while the UNION bank offers him 2% compounded annually.
1. Make an Illustration of Simple and Compound Interest
2.If you were Mr. Henry which offer will you choose and why?
Answers: 2
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Simple and Compound Interest
Direction : Analyze the problem given below, illustrate the two invest...
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