Reymark deposited ₱25,000 to his bank account with an annual interest of 4% that is compounded monthly. How long does he have to wait before he get a ₱45,000 on his account?

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.44TI: In 5 years, Gloria’s bank account earned $2,400 interest at 5%. How much had she deposited in the...
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Reymark deposited ₱25,000 to his bank account with an annual interest of 4% that is compounded monthly. How long does he have to wait before he get a ₱45,000 on his account? 

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