As at January 1, 2022, what is the value of P10,000 deposited on July 1, 2016,...
As at January 1, 2022, what is the value of P10,000 deposited on July 1, 2016, which accumulates interest at 16% compounded quarterly?
Homework Answers
| FV= PV*(1+r)^n |
| Where, |
| FV= Future Value |
| PV = Present Value |
| r = Interest rate =16%/4 =4% |
| n= periods in number =5.5 years *4 =22 |
| = 1000*( 1+0.04)^22 |
| =1000*2.36992 |
| = P 2369.92 |
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