Solution: How much is the sum of money now deposited 20.15 years ago?

(Last Updated On: December 8, 2017)

How much is the sum of money now deposited 20.15 years ago?

Problem Statement: CE Board November 1994

P500,000 was deposited 20.15 years ago at an interest rate of 7% compounded semi-annually. How much is the sum now?

  • A. P2,000,000
  • B. P2,000,150
  • C. P2,000,300
  • D. P2,000,500

Problem Answer:

The sum of money now deposited 20.15 years ago is P2,000,150.

Solution:

Solution: How much is the sum of money now deposited 20.15 years ago?

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Solution: How much is the sum of money now deposited 20.15 years ago?
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