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

 Nov 4, 2019
 #1
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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.....

 Nov 4, 2019

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