How much must Ella deposit in a bank that pays 11% interest compounded monthly so that she will have Php400,000 after 4 years?

To solve this problem, we need to 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 interest is compounded per year t = time the money is invested for in years

We need to find P, the principal amount. We know that:

A = Php400,000 r = 11% or 0.11 (in decimal) n = 12 (since the interest is compounded monthly) t = 4 years

Substituting these values into the formula, we get:

400,000 = P (1 + 0.11/12)^(12*4)

Now, we just need to solve for P:

P = 400,000 / (1 + 0.11/12)^(12*4)

Calculating the right side of the equation will give us the amount Ella must deposit.