Noah invested Php181,370 at 7% interest compounded quarterly for 10 years. How much is the compound interest at the end of the investment period?
Question
Solution 1
To solve this problem, we will use the formula for compound interest which is:
A = P (1 + r/n)^(nt)
where: A = the amount of money accumulated after n years, including interest. P = the principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that in Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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