To calculate the amount in a savings account after a certain number of years with a certain interest rate, we can use the formula:
A = P(1 + r/n)^(nt)
Where A is the final amount, P is the principal (initial amount), r is the annual interest rate, t is the number of years, and n is the number of times the interest is compounded per year.
In this case, we know that:
P = Php 150,000
r = 5%
t = 5 years
n = 4 (quarterly compounding)
So we can set up the equation as:
A = Php 150,000 (1 + 0.05/4)^(4*5)
A = Php 150,000 (1 + 0.0125)^20
A = Php 150,000 * 1.063496 = Php 160,522.44
So the amount in the account at the end of 5 years is Php 160,522.44
Answers & Comments
Answer:
To calculate the amount in a savings account after a certain number of years with a certain interest rate, we can use the formula:
A = P(1 + r/n)^(nt)
Where A is the final amount, P is the principal (initial amount), r is the annual interest rate, t is the number of years, and n is the number of times the interest is compounded per year.
In this case, we know that:
P = Php 150,000
r = 5%
t = 5 years
n = 4 (quarterly compounding)
So we can set up the equation as:
A = Php 150,000 (1 + 0.05/4)^(4*5)
A = Php 150,000 (1 + 0.0125)^20
A = Php 150,000 * 1.063496 = Php 160,522.44
So the amount in the account at the end of 5 years is Php 160,522.44
Step-by-step explanation:
Answer:
In the end of the 5 years there are php 192,305
Step-by-step explanation:
Hope it helpsssssssssssssssss