Question

if pauline deposited 4,000 pesos into an account paying 6% annual interest compounded quarterly,how much money will be in the account after 5years?

Answer 1

Given:

If Pauline deposited 4,000 pesos into an account paying 6% annual interest compounded quarterly,

To find:

How much money will be in the account after 5 years?

Solution:

The sum of money, P = 4000 pesos

The rate of interest, R = 6% p.a.

The no. of years, n = 5 years

The formula when the interest is compounded quarterly is as follows:

$\boxed{\bold{A = P (1 + \frac{\frac{R}{4} }{100} )^4^n}}$

Now, on substituting the given values of P, R & n in the above formula, we get

$A = 4000 (1 + \frac{\frac{6}{4} }{100} )^4^\times ^5}}$

$\implies A = 4000 (1 + \frac{1.5 }{100} )^2^0}}$

$\implies A = 4000 (1 + 0.015 )^2^0}}$

$\implies A = 4000 (1.015)^2^0$

$\implies \bold{A = 5387.42}$

Thus, 5387.42 pesos will be there in the account after 5 years.

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Answer 2

Answer:

e

Date Page

Excerise 10.4

- If You deposit & 4000 Into a Account to Playing 6% annual Intrest compounded, qvartelay • How muen money will be in the Account after 2 years.