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Solution: Find the compounded interest at the end of 10 years.

(Last Updated On: December 8, 2017)

Find the compounded interest at the end of 10 years.

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

Problem Answer:

The compounded interest at the end of 10 years is P6,040.20.

Solution:

Solution: Find the compounded interest at the end of 10 years.

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