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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.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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
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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