SITUATION1: Five hundred pesos (P500.00) is deposited monthly to an account earning 7% compounded monthly. (a) what is the amount of the deposit after five years? (b) if the monthly deposit after two years is increased to P1,000. What is the amount of the deposit after five b years? (c) repeat question () if the interest is 18% compounded monthly?
SITUATION1: Five hundred pesos (P500.00) is deposited monthly to an account earning 7% compounded monthly. (a) what is the amount of the deposit after five years? (b) if the monthly deposit after two years is increased to P1,000. What is the amount of the deposit after five b years? (c) repeat question () if the interest is 18% compounded monthly?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![SITUATION1: Five hundred pesos (P500.00) is deposited monthly to an
account earning 7% compounded monthly. (a) what is the amount of the
deposit after five years? (b) if the monthly deposit after two years
is increased to P1,000. What is the amount of the deposit after five
years? (c) repeat question (4) if the interest is 18% compounded
monthly?
b](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbf12cdb9-2cac-4801-ab01-ad2feff2a8ca%2F11d1b105-257b-4620-bfa1-a24b7ff5ae6b%2Fkzgpxv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:SITUATION1: Five hundred pesos (P500.00) is deposited monthly to an
account earning 7% compounded monthly. (a) what is the amount of the
deposit after five years? (b) if the monthly deposit after two years
is increased to P1,000. What is the amount of the deposit after five
years? (c) repeat question (4) if the interest is 18% compounded
monthly?
b
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