document.write( "Question 663747: 1.How much would Php. 10,000,000 amount in 5 years at 16% interest rate and compounded quarterly?\r
\n" ); document.write( "\n" ); document.write( "2. Mr. Cruz deposited money 500 pesos in the bank which earns 5% annual interest compounded annually.How much is his money after 2 years ?\r
\n" ); document.write( "\n" ); document.write( "please show solutions step by step thanks a lot.. \n" ); document.write( "
Algebra.Com's Answer #412925 by Edwin McCravy(20064)\"\" \"About 
You can put this solution on YOUR website!
1.How much would Php. 10,000,000 amount in 5 years at 16% interest rate and compounded quarterly?
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document.write( "A = P(1 + \"r%2Fn\")nt\r\n" );
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document.write( "A = final amount = ?\r\n" );
document.write( "P = beginning amount = 10,000,000\r\n" );
document.write( "r = interest rate expressed as a decimal = 0.16\r\n" );
document.write( "n = the number of compoundings each year = 4 (quarterly)\r\n" );
document.write( "t = the number of years = 5\r\n" );
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document.write( "A = 10000000(1 + \"0.16%2F4\")(4)(5)\r\n" );
document.write( "A = 10000000(1 + 0.04)20\r\n" );
document.write( "A = 10000000(1.04)20\r\n" );
document.write( "A = Php 21911231.43\r\n" );
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\n" ); document.write( "2. Mr. Cruz deposited money 500 pesos in the bank which earns 5% annual interest compounded annually.How much is his money after 2 years ?
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document.write( "A = P(1 + \"r%2Fn\")nt\r\n" );
document.write( "\r\n" );
document.write( "A = final amount = ?\r\n" );
document.write( "P = beginning amount = 500\r\n" );
document.write( "r = interest rate expressed as a decimal = 0.05\r\n" );
document.write( "n = the number of compoundings each year = 1 (compounded annually)\r\n" );
document.write( "t = the number of years = 2\r\n" );
document.write( "\r\n" );
document.write( "A = 500(1 + \"0.05%2F1\")(1)(2)\r\n" );
document.write( "A = 500(1 + 0.05)2\r\n" );
document.write( "A = 500(1.05)2\r\n" );
document.write( "A = Php 551.25\r\n" );
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document.write( "Edwin
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