An amount of P1,000 becomes P1,608.44 after 4 years compounded bimonthly. Find the nominal interest.

An amount of P1,000 becomes P1,608.44 after 4 years compounded bimonth

1.	An amount of P1,000 becomes P1,608.44 after 4 years compounded bimonthly. Find the nominal interest.
A.	11.89 %
B.	12.00 %
C.	12.08 %
D.	12.32 %
Answer» C. 12.08 %

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An amount of P1,000 becomes P1,608.44 after 4 years compounded bimonthly. Find the nominal interest.

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