An engineer was promised to have an initial salary of 42500 and will then be increased by P500 per month. If the engineer decided to not withdraw the salary for 2 years, how much will be the total amount after at an interest of 1.5% compounded quarterly. Note: Show detaild solution hand written please.
An engineer was promised to have an initial salary of 42500 and will then be increased by P500 per month. If the engineer decided to not withdraw the salary for 2 years, how much will be the total amount after at an interest of 1.5% compounded quarterly. Note: Show detaild solution hand written please.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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An engineer was promised to have an initial salary of 42500 and will then be increased by P500 per month. If the engineer decided to not withdraw the salary for 2 years, how much will be the total amount after at an interest of 1.5% compounded quarterly.
Note: Show detaild solution hand written please.
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