ong deposited an amount of Php10 000 in a bank that pays 4% annual interest compounded monthly. How much money will h

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
Chapter1: Functions
Section1.1: Functions Given By Formulas
Problem 2TU: What is your monthly payment if you borrow 5000 at a monthly rate of 0.61 and pay it off in 5 years?
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2. Boyong deposited an amount of Php10 000 in a bank that pays 4% annual interest compounded monthly. How much money will he have in a bank after 2 years?

2. Boyong deposited an amount of Php10 000 in a bank that pays 4% annual interest
compounded monthly. How much money will he have in a bank after 2 years?
Transcribed Image Text:2. Boyong deposited an amount of Php10 000 in a bank that pays 4% annual interest compounded monthly. How much money will he have in a bank after 2 years?
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