Problem Statement: CE Board November 1996
If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest after 7 years and 9 months.
- A. P660,550
- B. P670,650
- C. P680,750
- D. P690,850
The compounded interest after 7 years and 9 months is P690,850.
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