16. Andrew deposited PHP 130,000 in a * certificate of deposit (CD) paying 4% interest, compounded quarterly. How much will Andrew have in his account after 7 years if he will not withdraw nor

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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16. Andrew deposited PHP 130,000 in a
certificate of deposit (CD) paying 4%
interest, compounded quarterly. How
much will Andrew have in his account
after 7 years if he will not withdraw nor
deposit into this account? (use
Compound interest Formula)
O PHP 175, 220.35
O PHP 171.676.83
O PHP 175,220.36
O PHP 171,767.83
Transcribed Image Text:* 16. Andrew deposited PHP 130,000 in a certificate of deposit (CD) paying 4% interest, compounded quarterly. How much will Andrew have in his account after 7 years if he will not withdraw nor deposit into this account? (use Compound interest Formula) O PHP 175, 220.35 O PHP 171.676.83 O PHP 175,220.36 O PHP 171,767.83
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