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Answered

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ANO PO formula nito.Find the final amount of php.6,340 at 5% compounded annually for 5years.?​

Sagot :

AGboiiidn

[tex]\large{\mathcal{SOLUTION:}}[/tex]

Given:

  • P = 6,340
  • R = 5% or 0.05
  • T = 5 years

[tex] \\ [/tex]

Using the formula of compound interest:

  • F = P + P(1+R)^t
  • F = 6,340 + 6,340(1+0.05)^5
  • F = 6,340 + 6,340(1.05)^5
  • F = 6,340 + 6,340(1.2763)
  • F = 6,340 + 8091.742
  • F = 14,431.742

Therefore, the final amount is Php 14,431.742

[tex] \\ [/tex]

[tex]\large{\mathcal{ANSWER:}}[/tex]

  • The final amount is Php 14,431.742

[tex] \\ [/tex]

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