Problem Statement: ME Board April 1998
If the nominal interest rate is 3%, how much is P5,000 worth in 10 years in a continuous compounded account?
- A. P5,750
- B. P6,750
- C. P7,500
- D. P6,350
Problem Answer:
In 10 years, P5,000 will be worth P6,750
Solution:
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