Noah invested Php118,703 at 5% interest compounded quarterly for 1 years. What is the compound amount (future value) of his investment?
Question
Solution 1
To calculate the future value of Noah's investment, we will use the formula for compound interest which is:
A = P (1 + r/n)^(nt)
where: A = the future value of the investment/loan, including interest P = the principal investment amount (Php118,703 in this case) r = annual interest rate (5% or 0.05 Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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