SOLUTION: A 6, 000.00 pesos was lent at 6% simple interest for 4 years. At the end of 4th year, the entire money (including the interest) was invested at 5% compounded annually for 12 years.
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: A 6, 000.00 pesos was lent at 6% simple interest for 4 years. At the end of 4th year, the entire money (including the interest) was invested at 5% compounded annually for 12 years.
Log On
Question 1184494: A 6, 000.00 pesos was lent at 6% simple interest for 4 years. At the end of 4th year, the entire money (including the interest) was invested at 5% compounded annually for 12 years. What is the future worth of the investment at the end of the 16th year? Answer by ikleyn(52817) (Show Source):
