Solution: How much would the sum be on January 1, 1993?

(Last Updated On: December 8, 2017)

How much would the sum be on January 1, 1993?

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

Problem Answer:

The sum of money will become P621,170 on January 1, 1993.

Solution:

Solution: How much would the sum be on January 1, 1993?

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