2. On January 1, 2022, Marites deposited P15,000 in a bank that offered 2.5% annual interest compounded monthly, and a 20% tax on the interest is deducted every month. Determine the total balance of her account on April 1, 2022.
2. On January 1, 2022, Marites deposited P15,000 in a bank that offered 2.5% annual interest compounded monthly, and a 20% tax on the interest is deducted every month. Determine the total balance of her account on April 1, 2022.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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![Label all final answers with the correct
units, if applicable. Unless otherwise stated, use 4 decimal places for intermediate computations of
interest rates (if needed) then round off final answers to two decimal places. For monetary amounts,
use 2 decimal places even for intermediate computations.
2. On January 1, 2022, Marites deposited P15,000 in a bank that offered 2.5% annual interest compounded
monthly, and a 20% tax on the interest is deducted every month. Determine the total balance of her
account on April 1, 2022.
2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb3afb5a8-b507-41ec-90bd-20b30f93dc80%2Fbc3e998f-46d3-4cfa-9a94-5a46b65a186b%2Fiav17av_processed.png&w=3840&q=75)
Transcribed Image Text:Label all final answers with the correct
units, if applicable. Unless otherwise stated, use 4 decimal places for intermediate computations of
interest rates (if needed) then round off final answers to two decimal places. For monetary amounts,
use 2 decimal places even for intermediate computations.
2. On January 1, 2022, Marites deposited P15,000 in a bank that offered 2.5% annual interest compounded
monthly, and a 20% tax on the interest is deducted every month. Determine the total balance of her
account on April 1, 2022.
2
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