Problem Statement: CE Board May 1996
P200,000 was deposited on January 1, 1988 at an interest rate of 24% compounded semi-annually. How much would the sum be on January 1, 1993?
- A. P401,170
- B. P421,170
- C. P521,170
- D. P621,170
The sum of money will become P621,170 on January 1, 1993.
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