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What the value of investment after two years is closest to

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Reference no: EM133006954

Problem 1: Matthew repays a loan of P8,000 by monthly installments of P250 for 5 years. The amount of interest charged is:

A) P 7,250

B) P 15,000

C) P 1,250

D) P 7,000

Problem 2: P20,100 is invested at a rate of 6·9% p.a., compounded annually. The value of the investment after 2 years is closest to:

A) P 22 969.50

B) P 22 873.80

C) P 24 554.39

D) P 21 486.90

Reference no: EM133006954

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