An initial savings deposit of P80,000in a certain bank earns 6% interest per annum compounded monthly. If the earnings from the deposit are subject toa 20% tax, what would be the net value of the deposit be after three quarters? Answer is P82938.28

An initial savings deposit of P80,000in a certain bank earns 6% interest per annum compounded monthly. If the earnings from the deposit are subject toa 20% tax, what would be the net value of the deposit be after three quarters? Answer is P82938.28

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

9. An initial savings deposit of P80,000in a certain bank earns 6% interest per annum compounded monthly. If the earnings from the deposit are subject toa 20% tax, what would be the net value of the deposit be after three quarters?
Answer is P82938.28

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