SOLUTION: You invest Php 800 in an account that pays 6% interest, compounded annually. How much money do you have after five years? Round your answers to the nearest cent.
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Question 1185193: You invest Php 800 in an account that pays 6% interest, compounded annually. How much money do you have after five years? Round your answers to the nearest cent. Answer by ikleyn(52832) (Show Source):
Use the formula for compounded account
Future value = = .
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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.
