Asked by Alyanna
By the conditions of a will, the sum of P25,000 is left to a girl to be held in trust by her guardian until it amounts to 45,000. when will the girl receive the money if the fund is invested at 8% compounded quarterly?? please show the solution.. thank you:)
Answers
Answered by
Damon
8%/4 = 2% per quarter
so every three months multiply by 1.02
25 * 1.02^n = 45
1.02^n = 1.8
n log 1.02 = log 1.8
n = 29.68 quarters
or 7.42 years
so every three months multiply by 1.02
25 * 1.02^n = 45
1.02^n = 1.8
n log 1.02 = log 1.8
n = 29.68 quarters
or 7.42 years
Answered by
Alyanna
wooow..thanks:)
Answered by
Anonymous
how you get 1.02
Answered by
thea
F=P*(1+i)^n --->formula
1.02 is from (1+.02)
since 8% compounded Quarterly..
8%/4=0.02
1.02 is from (1+.02)
since 8% compounded Quarterly..
8%/4=0.02
Answered by
Anonymous
7.42
Answered by
meraflor rivero
thank you very much.
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