Suppose Mrs. Manda would like to deposit P3,000 every month in a fund that gives 9%, compounded monthly. How much is the amount of future value of her savings after 6 months?

Suppose Mrs. Manda would like to deposit P3,000 every month in a fun

1.	Suppose Mrs. Manda would like to deposit P3,000 every month in a fund that gives 9%, compounded monthly. How much is the amount of future value of her savings after 6 months?
Answer» ppose Mrs. Manda would like to deposit P3,000 every month in a fund that gives 9%, compounded monthly. To find:How much is the amount of future value of her savings after 6 months?Solution:The sum of MONEY Mrs. Manda DEPOSITED, P = 3000The RATE of INTEREST, R = 9%The no. of years, n = 6 months = The formula when the interest is compounded monthly is as follows:Now, on substituting the given values of P, R and n in the formula above, we getThus, the amount of future value of her savings after 6 months is → P3137.55.---------------------------------------------------------------------------ALSO View:What will be the compound interest on *5,000, if it is compounded half-yearly for 1 year 6 months at 8% per annum?brainly.in/question/12296626What will Rs. 80,000 amount to in 2 years at the rate of 20% p.a., if interest is compounded half-yearly?brainly.in/question/12159582Which is a better investment 8% compounded half-yearly or 7.9% compounded monthly?brainly.in/question/18934023What will be the compound interest on a sum of 31,250 for 2 years at 12% p.a., if the interest is compounded 8-monthly?brainly.in/question/13624750

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Suppose Mrs. Manda would like to deposit P3,000 every month in a fund that gives 9%, compounded monthly. How much is the amount of future value of her savings after 6 months? ​

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Suppose Mrs. Manda would like to deposit P3,000 every month in a fund that gives 9%, compounded monthly. How much is the amount of future value of her savings after 6 months?