Independent Activity 1
Annual payments of P1,000.00 at the end of each term for 8 years with
interest rate of 6% compounded quarterly. Find the present and the
future value.
Annual payments of P1,000.00 at the end of each term for 8 years with
interest rate of 6% compounded quarterly. Find the present and the
future value.
Answers & Comments
Answer:
480 PESOS
Step-by-step explanation:
PRINCIPAL = 1,000 PESOS
RATE = 6% OR 0.06%
TIME = 8 YEARS
1,000 PESOS × 0.06% = 60 PESOS
60 PESOS × 8 YEARS = 480 PESOS