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Math

Answered

A businessman saves Php 6, 000 every 6 months in a bank that pays 0.25% compounded monthly. How much will be her savings after 8 years?

Sagot :

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Answer:

savings-96,024

Step-by-step explanation:

8years=96 months

96months÷6 months=16 times of paying a 6,000 pesos in the bank for the he savings.

(0.25)(96months)=24 pesos 8 years interest from the bank

16times of paying ×6000 saving every 6 months=96,000saving for 8years + 24 8years interest from the bank = 96,024 savings for the whole 8years

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