You want to save an amount of P100,000 at the end of 10 years. You are given 8% interest compounded quarterly. How much would you have to save per month in order to accumulate the sum of P100,000 ten years from now?

You want to save an amount of P100,000 at the end of 10 years. You are given 8% interest compounded quarterly. How much would you have to save per month in order to accumulate the sum of P100,000 ten years from now?

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

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Question

You want to save an amount of P100,000 at the end of 10 years. You are given
8% interest compounded quarterly. How much would you have to save per month
in order to accumulate the sum of P100,000 ten years from now?
a
P348.21
P448.21
b
P548.21
d
P64

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