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?

Answers

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

Equation:

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

Given:

D = Php 1000 deposit per month

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

If

T = time (after 3 months)

What is asked: I = interest

answer

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?

Other questions on the subject: Math

answer: puzzled is used to make the player think more and to analyze the data given. complete is to is to have the correct and specified data gathered. math is a subject that makes...Read More
1 more answers
Math, 28.10.2019, elaineeee
answer: in the middle of the venn diagram, you put the triangle, pentagon and hexagon. then the rectangle will be in the side of all angles are congruent...Read More
1 more answers
Math, 29.10.2019, kambalpandesal23
1)d. business transactions2)false3)a. unearned expense4)a. credit5)a. credit6)false7)b. debit8)b. expenses9)b. true10)a. debit11)b. false12)a. false13)d. immediate recognition14)d....Read More
1 more answers
Margin fo error=z(sub a/2) * √(p*(1-p))/n0.08=0.6736*√(0.25*(1-0.25))/nn=(0.25*(1-0.25))/(0.08/0.6736)^2n=13.2931...Read More
2 more answers
Math, 14.11.2019, Rosalesdhan
answer:marlo is 20 yrs old while his brother is 60 years ild so you just need to add 20 and 60 thats why it is 80 (just my opinion)...Read More
1 more answers