Compound Interest Solving for Rate

At what nominal rate compounded quarterly will P24,000 accumulate to P30,000 in 4 years?

• 0.056%

• 5.62%

• 5.63%

• 0.056%

Nora borrowed an amount of P40 000 which she paid with an interest of P2,000 at the end of 3 years. At what nominal rate compounded semi-annually was it invested?

• 1.63%

• 0.016%

• 1.64%

• 0.0163%

In how many years will it take P18,000 accumulate to P20,000 when deposited in a savings account that earns 0.250% compounded monthly?

• 506

• 505

• 42.16

• 42.15

Find the rate compounded annually if 45,000 is the present value of 75,000 due in 5 years?

• 0.1075%

• 0.1076%

• 10.76%

• 10.75%

What is the formula in finding the n?

• None of these

What is the formula in finding the time if it is compounding more than once a year?

What is the formula in finding the nominal rate given that it is compounding more than once a year?

• None of these

What is the formula in finding the j?

How are we going to find the time if it is compounding more than once a year?

• Find the j first, then find the time

• Find the n first then find the time

• Find the n first, then the j and lastly find the time

• All of the above

How are we going to find the nominal rate if it is compounding more than once a year?

• Find the j first, then find the nominal rate

• Find the n first then find the nominal rate

• Find the n first, then the j and lastly find the nominal rate

• All of the above