Verified answer

✒ COMPOUND INTEREST

• Mr Z ach makes an initial investment of 6,000 for a period of two years find the value of the investment after the two years if the investment cars the return of 8% compounded quarterly?

Given,

• P = 6,000
• R = 8% or 0.08
• T = 2
• N = 4 (since interest is compounded quarterly)

Solving,

The value of the investment after the two years is Php 7,029.95

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