If a sum of money was invested 36 months ago at 8% annual compounded monthly,
and it amounts to $2,000 today, then
P x ( 1 + [ 2/3% ] )36 = 2,000
P = 2,000 / ( 1 + [ 2/3% ] )36 = 1,574.51
Chat with our AI personalities
year
Since the annual interest rate is given, the fact that the interest is calculated and compounded quarterly is not relevant. The interest is 750000*2.5/100 = 18750 pesos.
$5,249.54
500 invested for 5 years at 7% interest compounded annually becomes 701.28
396.93