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What is the value of the investment

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1. An employee borrows P60 000 for 7 months at an interest rate of 12% per year. How much is the simple interest?

2. Grace borrowed P5 000 with a simple interest rate of 2.5%. She will use the money for 3 years and 7 months. How much interest will Grace pay at the end of this period?

3. Russell invested P50 000 in a bank that pays 8% compounded quarterly for 5 years. How much is his money in the bank after 5 years?

4. Harvey invested P100 000 in a trust fund that pays 12% compounded semi-annually. How long will it take for Harvey to double his money?

5. If an amount of P5 000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, what is the value of the investment after 10 years?

Reference no: EM132807335

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