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A bank pays an an annual interest rate of 3% compounded quarterly. if the initial deposit (or principal ) is php 50000 find the the balance after 5 years?

 Feb 4, 2021
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50000 (  1+  .03/4) ^(5 * 4)   ≈  58059.21  php

 

{ php   =   Philippine pesos  }

 

cool cool cool

 Feb 4, 2021

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