Compound Interest EXERCISES 3. If P48,000.00 is invested at the rate of 16% compounded quarterly,...
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Compound Interest EXERCISES 3. If P48,000.00 is invested at the rate of 16% compounded quarterly, when will the compound amount become P70,000.00? 4. How long will it take for a certain sum of money to triple itself at 10% rmpounded monthly? Compound Interest EXERCISES: 1. Jimmy wants to have P30,000.00 in to years to buy a new computer. How much money should he invest today in a fund that earns 5% compounded quarterly? 2. At what rate compounded quarterly should P25,000.00 be deposited in bank to gain an interest of P4,500.00 in 3 years
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