As at January 1, 2022, what is the value of P10,000 deposited on July 1, 2016, which accumulates interest at 16% compounded quarterly?
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 |
As at January 1, 2022, what is the value of P10,000 deposited on July 1, 2016,...
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