Question 1172931
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With an annual rate of 8% compounded semiannually, the interest rate is 4% (=0.04) each half year.<br>
That means the amount grows by a factor of (1+0.04 = 1.04) every half year, or twice each year.<br>
In 4 years, the amount grows by that factor 2*4 = 8 times.<br>
{{{64600(1+.08/2)^(2*4) = 64600(1.04^8) = 88409.56}}}<br>
ANSWER: Php 88,409.56<br>