Problem Statement: ME Board April 1998
If P5,000.00 shall accumulate for 10 years at 8% compounded quarterly, find the compounded interest at the end of 10 years.
- A. P6,005.30
- B. P6,000.00
- C. P6,040.20
- D. P6,010.20
The compounded interest at the end of 10 years is P6,040.20.
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