Find the compound amount and interest if Php. 400,000 is invested at 8 %, compounded quarterly for 5 years and 6 months?
1 answer:
Answer:
618 391 .87
Step-by-step explanation:
5 years 6 months = 22 quarters
8% = .08 .08/4 = .02 interest per period
400 000 ( 1 + .02)^22 = 618 391.87
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