11. In how many years will P6,500 accumulate to P10,000 if it is invested at 12% compounded quarterly?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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11. In how many years will P6,500 accumulate to P10,000 if
it is invested at 12% compounded quarterly?
12. Mr. Cruz plans to invest P45,000 on his son's birth for his
son's education 5 years later. If Mr. Cruz wishes to have
P80,000 by that time, at what rate converted quarterly
should be invest his money?
Transcribed Image Text:11. In how many years will P6,500 accumulate to P10,000 if it is invested at 12% compounded quarterly? 12. Mr. Cruz plans to invest P45,000 on his son's birth for his son's education 5 years later. If Mr. Cruz wishes to have P80,000 by that time, at what rate converted quarterly should be invest his money?
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