Spart of planning for future expenses, she started to deposit php 1,000.00 monthly in a fund that pays 6% compounded quarterly. how much will her funds worth be after 15 years?


The deposit will be Php1,819.40 in 10 years.

Step-by-step explanation:

Present Value (P): 1,000

Rate of Compound Interest (r): 6% or .06

Compounding period (n): monthly or 12

Time in years (t): 10

Future Value/Accumulated Value (A) : Unknown


A=P(1+\frac{r}{n})^{nt}A = 1,000 (1 + .06/12)⁽¹²⁾⁽¹⁰⁾

A = 1,000 (1 + 0.005)¹²⁰

A = 1,000 (1.005)¹²⁰

A = 1,000 (1.819397)

A ≈ 1,819.397  or 1,819.40

The deposit will be Php1,819.40 in 10 years.
The answer is 290076.28
The answer is 13,343.23


D = Php 1000 deposit per month

R = Interest rate 6% per quarter (every 3 months)


T = time (after 3 months)

What is asked: I = interest


So after 3 months she deposited PHP 3,000

I = D x R

I = Php 3,000 x 0.06

I = PHP 180

So her interest is $180 after 3 months or 1 quarter

60 pesos is the equivalent interest because if you multiply .06 by 1000 the answer is 60 so the interest is 60.
THE answer is 13,343.23

Do you know the answer?

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