If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest after 7 years and 9 months.
If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest after 7 years and 9 months.
Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
Section: Chapter Questions
Problem 1P
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If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest after 7 years and 9 months.
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