SOLUTION: A lender offer 1.5% annual interest rate, compounded annually, for a certain fun give an exponential model for sum Php 50,000.00 under this scheme hoe much money will ther be in th

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: A lender offer 1.5% annual interest rate, compounded annually, for a certain fun give an exponential model for sum Php 50,000.00 under this scheme hoe much money will ther be in th      Log On


   

Question 1190192: A lender offer 1.5% annual interest rate, compounded annually, for a certain fun give an exponential model for sum Php 50,000.00 under this scheme hoe much money will ther be in the account after 5 years
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
This is 50000(1+0.015)^5 for annual compounding
=53864.20 Php (round at the end)