For items 3-4 Check at the table to answer the questions. ENDING STARTING BALANCE INTEREST MONTH BALANCE EARNED 1 P1 000.00 2.5 P 1 002.5 2 P1 002.5 2.51 P1 005.01 P1 005.01 2.51 P 1 007.52 4 P 1...

For items 3-4<br>Check at the table to answer the questions.<br>ENDING<br>STARTING<br>BALANCE<br>INTEREST<br>MONTH<br>BALANCE<br>EARNED<br>1<br>P1 000.00<br>2.5<br>P 1 002.5<br>2<br>P1 002.5<br>2.51<br>P1 005.01<br>P1 005.01<br>2.51<br>P 1 007.52<br>4<br>P 1 007.52<br>2.52<br>P1010.04<br>P 1 010.04<br>2.53<br>P1 012.57<br>P1 012.57<br>2.53<br>P1 015.10<br>7<br>P 1 015.10<br>2.54<br>P 1017.64<br>8<br>P1017.64<br>2.54<br>P1 020.18<br>P 1 020.18<br>2.55<br>P 1 022.73<br>10<br>P 1 022.73<br>2.56<br>P 1 025.29<br>11<br>P1 025.29<br>2.56<br>P 1 027.85<br>12<br>P 1 027.85<br>2.57<br>P1 030.42<br>3. Determine the annual interest rate, compounded monthly. Show the complete<br>solution.<br>

Extracted text: For items 3-4 Check at the table to answer the questions. ENDING STARTING BALANCE INTEREST MONTH BALANCE EARNED 1 P1 000.00 2.5 P 1 002.5 2 P1 002.5 2.51 P1 005.01 P1 005.01 2.51 P 1 007.52 4 P 1 007.52 2.52 P1010.04 P 1 010.04 2.53 P1 012.57 P1 012.57 2.53 P1 015.10 7 P 1 015.10 2.54 P 1017.64 8 P1017.64 2.54 P1 020.18 P 1 020.18 2.55 P 1 022.73 10 P 1 022.73 2.56 P 1 025.29 11 P1 025.29 2.56 P 1 027.85 12 P 1 027.85 2.57 P1 030.42 3. Determine the annual interest rate, compounded monthly. Show the complete solution.

4. How long do you think it would take to double your initial investment? Give your<br>response in years. Make a conclusion.<br>

Extracted text: 4. How long do you think it would take to double your initial investment? Give your response in years. Make a conclusion.

Jun 10, 2022

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For items 3-4 Check at the table to answer the questions. ENDING STARTING BALANCE INTEREST MONTH BALANCE EARNED 1 P1 000.00 2.5 P 1 002.5 2 P1 002.5 2.51 P1 005.01 P1 005.01 2.51 P 1 007.52 4 P 1...

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