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Answered

Find the present value of ₱150,000.00 at 15% interest compounded monthly for 6 years.

Sagot :

MrBeastEducationgo

Answer:

61,326.61

Step-by-step explanation:

PV = FV / (1+r)^n

Given:

F=₱150,000

r=15% or 0.15

t= 6 years

m= 12

t=r/m n=mt

t= 0.15/12 n= 12(6)

t= 0.0125 n= 72

P= F(1+i)^-n

P=150,000(1+0.0125)^-72

P= 61326.61

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