Question

36 - 40. In order to save for her high school graduation, Marie decided to save P200 pesos at the end of each month. If the

bank pays 0.250% compounded monthly, how much will her money be at the end of years?​

Answer 1

200.4 at 0.25%

Explanation:

Given data

P= P200

r= 0.25%

t= 1 year

n= 12

A= P(1+ r/n)^nt

substitute

A= 200(1+ 0.0025/12)^12*1

A= 200(1+ 0.00020833333)^12

A= 200(1.0002)^12

A= 200* 1.002

A= 200.4

Hence the amount is 200.4 at 0.25%