You want to start to save for a major purchase. You can invest ₱320 every three months for 3 years and 9 months and you can earn 5.34% compounded quarterly. What is the amount of interest that you make during the entire term? * a. ₱5346.01 b. ₱5275.58 c. ₱951.66 d. ₱964.36

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter16: Interest, Rent, And Profit
Section: Chapter Questions
Problem 1WNG
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You want to start to save for a major purchase. You can invest ₱320 every three months for 3 years and 9 months and you can earn 5.34% compounded quarterly. What is the amount of interest that you make during the entire term? *
 
a. ₱5346.01
b. ₱5275.58
c. ₱951.66
d. ₱964.36
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