In how many years will it take P18,000 accumulate t P20,000 when deposited in a savings account that earn 0.250% compounded monthly? a. 42.15 b. 42.16 c. 506 d. 505

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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In how many years will it take P18,000 accumulate to
P20,000 when deposited in a savings account that earns
0.250% compounded monthly?
a. 42.15
b. 42.16
c. 506
d. 505
Transcribed Image Text:In how many years will it take P18,000 accumulate to P20,000 when deposited in a savings account that earns 0.250% compounded monthly? a. 42.15 b. 42.16 c. 506 d. 505
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