SOLUTION: How much interest will be paid in 2 years for a loan of Php 20 000 at an interest rate of 6% p. a. compounded quarterly?

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Question 895306: How much interest will be paid in 2 years for a loan of Php 20 000 at an interest rate of 6% p. a. compounded quarterly?
Answer by mark_henrhiz(40) About Me  (Show Source):
You can put this solution on YOUR website!
Are you a Filipino?
A=P%281+%2B+r%2Fn%29%5E%28nt%29
P = P 20 000
r = 0.06
n = 4
t = 2
A+=+20+000%281+%2B+0.06%2F4%29%5E%284%2A2%29
A+=+65+813.+26