7-9) How much should be deposited in a savings account now if it is desired to have 250,000 in the account at the end of 10 years if the annual rate is 8% compounded quarterly?
10-14) Mr. Cruz has P60.000 and divides it equally to invest in two funds for the education of his child. Fund A gives 8% simple interest rate and Fund B gives 6% interest rate compounded monthly. Which fund will give the higher return?
Note: Rounding off to the nearest hundredth should be done only at the final answer
can you guys answer this question. thanks