2. Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to make annual deposits of PhP 40,000 for 10 years with the first payment being today. Determine the present worth of Ms. Perez's savings account. A. PhP 256,706.31 B. PhP 356, 706.31 C. PhP 279,809.88 D. PhP 289,908.88

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A: Formula: FV=PV×1+rt

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: The future value is the future worth of the amount that will be paid or received in the future.