Jeana invested P20,000.00 in a retirement account that has a rate of 20% that compound annually. If hen leaves her money for 3 y

Question

3 years ago

11

ears how much money will be in her account? Brainly

1 answer:

ioda · Answer 1 · 2022-09-06T09:19:08+03:00

Answer:

P 34,560.00

Step-by-step explanation:

The relationship between the amount invested today(present value) and the expected future value amount can be shown in the formula provided below:

FV=PV*(1+r)^n

FV=expected future amount=the unknown

PV=amount invested today= P20,000.00

r=rate of return=20%

n=investment time horizon=3 years

FV=20000*(1+20%)^3

PV=20000*(1.20)^3

PV=20000*1.728

PV=P 34,560.00