SOLUTION: An investment of P8,500 is made at the end of each year with interest of 3.5% compounded annually. What is the total amount of investment after 6 years?

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Question 1201513: An investment of P8,500 is made at the end of each year with interest of 3.5% compounded annually. What is the total amount of investment after 6 years?
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
you will have 55,676.29 at the end of the 6 year invetsment period.
i used the financial calculator at https://arachnoid.com/finance/
here are the results.



present value = 0
number of time periods = 6 years
payment amount = -8500.
interest rate per time eperiod = 3.5% per year.
payment made at the end of each time period.