Php 100 000 is deposited in a trust fund at an annual interest rate of 10%. compounded monthly. How long will it take the fund to reach P102 000? (Recall that f(x) = a(1 + b)*, where a is the initial investment,b is the rate per compounding period, and x is the total number of periods.) %3D

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
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Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
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Php 100 000 is deposited in a trust fund at an annual interest rate of 10%. compounded monthly. How long will it take
the fund to reach P102 000? (Recall that f(x) = a(1 + b)*, where a is the initial investment,b is the rate per compounding
period, and x is the total number of periods.)
%3D
Transcribed Image Text:Php 100 000 is deposited in a trust fund at an annual interest rate of 10%. compounded monthly. How long will it take the fund to reach P102 000? (Recall that f(x) = a(1 + b)*, where a is the initial investment,b is the rate per compounding period, and x is the total number of periods.) %3D
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