Solution: Determine the total amount at the end of 5 years of P50,000

(Last Updated On: December 8, 2017)

Determine the total amount at the end of 5 years of P50,000 deposited in the bank

Problem Statement: ECE Board April 1999

The amount of P50,000 was deposited in the bank earning at interest of 7.5% per annum. Determine the total amount at the end of 5 years, if the principal and interest were not withdrawn during the period?

  • A. P71,781.47
  • B. P72,475.23
  • C. P70,374.90
  • D. P78,536.34

Problem Answer:

The total amount at the end of 5 years of P50,000 deposited in the bank is P71,781.47.

Solution:

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Solution: Determine the total amount at the end of 5 years of P50,000
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