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- Collaboration Exercise #2
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- Question 1
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- What is the compound amount of P35,000 invested at 24% interest compounded monthly for 15 months?
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- Given
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- P= 35,000 j= 0.24 or 24% t= 15 months (1.3) m= 12
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- n=tm n=1.3x12 n=15.6
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- i= j/m i=0.24/12 i=0.02
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- Required: F = ?
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- Solution
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- F = P(1+i)ⁿ F = 35,000(1+0.02) F = P47,668.42
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- 15.6
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- Answer: The compound amount of P35,000 invested at 24% interest compounded monthly for 15 months is P47,668.42.
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- Question 5 What is the effective rate equivalent to a nominal rate of 5% compounded semi-annually?
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- Given:
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- j = 0.05 or 5% i=j/m m = 2 i=0.05/2 i=0.025 Required: w = ?
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- Solution:
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- w=(1 + j/m) -1 w=(1+0.05/2)² -1 w= 0.0506 or 5.06%
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- m
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- Answer: The effective rate of 5.06% is equivalent to a nominal rate of 5% compounded semi-annually.
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- Thank you!
- 01:16
- Aryanna Dela Cruz
- 01:16
- Kurt Provido
- 01:19