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How much more would have to save today than

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Problem 1: Jane recently inherited P300,000, and she wants to invest a portion of it so that she will have P500,000 saved by the time she retires in 20 years. However, she is unsure how much interest she can earn annually on her investment. If she earns 3% compound interest annually, how much more would she have to save today than if she earned 5% annually? (Round the answer to the nearest peso)

A. 88,393

B. 188,445

C. 276,838

D. 100,052

Reference no: EM132916680

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