Answer:
Php 2,701.80
Step-by-step explanation:
Using geometric sequence formula
a1 = 5,000 ; this is the first term value.
a2 is the 2nd term as well as the 1st month, therefore
a13 is the 13th term or the value of money after 12 months.
r = 1 - 0.05 = 0.95
n = 13
a13 = a1r^(n-1)
a13 = 5,000 ( 0.95)^(13-1)
a12 = 2,701.80
