You deposit Php 5,000 into an account paying 8.5% annual interest compounded monthly. a. how much money will be in the account after 5 years? b. how much will be added to the account after 5 yaers? c. how much will be added in the account after 10 years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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2. You deposit Php 5,000 into an account paying 8.5% annual interest compounded monthly.

a. how much money will be in the account after 5 years?

b. how much will be added to the account after 5 yaers?

c. how much will be added in the account after 10 years?

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