What will be the balance on december if deposited in a bank

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Reference no: EM132664483

Problem 1. What will be the balance of P10,000 on December 31, 2024 if it is deposited in a bank on January 1, 2020 earning a 7% interest per year, no compounding of interest.

a) P 11,400 c) P 14,026.00
b) P 11,449 d) P 13,500.00

Problem 2. What is the present value of P500,000 to be received 5 years from now at a discounted rate of 6% per year compounded quarterly.

a) P 371,235.00 c) P 376,804.00
b) P 373,629.00 d) P 155,902.00

Problem 3. You deposit P20,000 in a savings account that earns 10% interest, compounded semi-annually. How much money you will have in the bank after 10 years?

a) P 32,578.00 c) P 55,719.00
b) P 34,207.00 d) P 53,066.00

Reference no: EM132664483

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