Solution: How much will the merchant collect at the end of the sixth year?

(Last Updated On: December 8, 2017)

How much will the merchant collect at the end of the sixth year?

Problem Statement: ME Board April 1998

A merchant puts in his P2,000.00 to a small business for a period of six years. With a given interest rate on the investment of 15 % per year, compounded annually, how much will he collect at the end of the sixth year?

  • A. P4,400.00
  • B. P4,390.15
  • C. P4,200.00
  • D. P4,626.00

Problem Answer:

The merchant will collect P4,626.00 at the end of the sixth year.

Solution:

Latest Problem Solving in Engineering Economics (Simple & Compound Interest)

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Solution: How much will the merchant collect at the end of the sixth year?
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