38. The amount of P 20,000 was deposited in a bank earning an interest of 6.5% per annum. Determine the total amount at the end of 17 years if the principal and interest were not withdrawn during this period. A. P 53,480.93 B. P 54,830.93 C. P 58,403.93 D. P 58,340.93
38. The amount of P 20,000 was deposited in a bank earning an interest of 6.5% per annum. Determine the total amount at the end of 17 years if the principal and interest were not withdrawn during this period. A. P 53,480.93 B. P 54,830.93 C. P 58,403.93 D. P 58,340.93
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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38. The amount of P 20,000 was deposited in a bank earning an interest of 6.5% per annum. Determine the total amount at the end of 17 years if the principal and interest were not withdrawn during this period.
A. P 53,480.93
B. P 54,830.93
C. P 58,403.93
D. P 58,340.93
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