Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time she is 20 years of age. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be? Select the correct response: Millet must deposit at least P136,000.00. Millet must deposit at least P138,000.00. Millet must deposit at least P135,000.00.

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Q: 1) millet wants to provide a ₱200,000 graduation gift for her daughter mae who is now 16 years old.…

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