Find The Compound Amount On Deposit At The End Of 1 Year If Php 20 000 Is Deposited At 4% Compounded

Find the compound amount on deposit at the end of 1 year if Php 20 000 is deposited at 4% compounded annually

 

✒ ANNUAL COMPOUND

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\large\sfnderline{Problem:}

  • Find the compound amount on deposit at the end of 1 year if Php 20 000 is deposited at 4% compounded annually

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\large\sfnderline{Answer:}

\huge\tt\orange{\:\:\:\:\:\:Php\:20, 800}

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\large\sfnderline{Solution:}

  • \large\tt{S = p ( 1+r) ^{t}}
  • \large\tt{S = 20,000(1+0.04) ^{1}}
  • \large\tt{S = 20,000(1.04) ^{1}}
  • \large\tt\orange{S = 20,800}

\because Php 20,800.00 is the compound amount on deposit at the end of 1 year.

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#CarryOnLearning

ヾ(＾-＾)ノ


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