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Answered

If php 320.00 is invented for 5 years at 8% compiunded quarterly
What is compund interest?

Sagot :

Imsarahgo

Answer:

Php 1,491.51

Step-by-step explanation:

Compound Interest Formula

A=P(1+i)^n

A= future value

P= present value, Php 320.00

i= 8% or 0.08

n= mt           m= 4(quarterly)   t= 5

= 4(5)=20

A= 320(1+0.08)^20

  = 320(1.08)^20

  = 320(4.660957144)

A= Php 1,491.51

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