Engineering Board Exam Reviewer · Compound Interest · hard

Find the compound amount of P6,000 at 9% compounded annually for 10 years.

1. P14,204.18
2. P13,800.00
3. P15,000.00
4. P13,000.00

Answer

A. P14,204.18

Solution

A=6000(1.09)10 P14,204.18.

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