An investment of P60,800 increases to a P83,200, if invested at 18% compounded monthly, find the tern of the investment.

Audreeeey Nov 4, 2019

#1**0 **

The equation you will need is

FV = PV (1+i)^{n}

^{FV = future value (83200)}

^{PV = present (or starting value)}

^{i = periodic interest in decimal form . The periods are 1 month 18% / 12months = 1.5% per period = .015 }

^{n = mumber of periods (months) <===== this is what you are looking for in the Q}

^{Try it to see what YOU can compute.....}

ElectricPavlov Nov 4, 2019