An amount of P1,000 becomes P1,608.44 after 4 years compounded bimonthly. Find t

Question

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

Options:

A . 11.89 %

B . 12.00 %

C . 12.08 %

D . 12.32 %

Answer: Option B

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