2. By the condition of a will, the sum of P20,000 is left to a girl to be held in a trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?

2. By the condition of a will, the sum of P20,000 is left to a girl to be held in a trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

ChapterP: Prologue: Calculator Arithmetic

Section: Chapter Questions

Problem 2TU: If the annual percentage rate is 8% and the interest is compounded monthly, what is the amount owed...

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2. By the condition of a will, the sum of P20,000 is left to a girl to be held in a trust fund by her guardian until it amounts to
P50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?

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