Asked by Anonymous
At what rate of interest should Php18,000 be invested so that it will earn Php2,500 at the end of 504 days?
Answers
Answered by
Steve
at the rate of r per day, that would be
18000((1+r)^504 - 1) = 2500
assuming compound interest...
18000((1+r)^504 - 1) = 2500
assuming compound interest...
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