6. Leandro plans to start an investment fund. There are two options. In Option A, he is required to pay P3,000 at the end of every two months and earns 3% interest compounded monthly. In Option B. he is required to pay P1, 500 at the end of every month and earns 2% interest compounded quarterly. Which of these options will give a higher amount after 10 years? Solution: Option A
6. Leandro plans to start an investment fund. There are two options. In Option A, he is required to pay P3,000 at the end of every two months and earns 3% interest compounded monthly. In Option B. he is required to pay P1, 500 at the end of every month and earns 2% interest compounded quarterly. Which of these options will give a higher amount after 10 years? Solution: Option A
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
Problem 27PS
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