Mr. Santos started to deposit Php 3,500 monthly in his online bank that pays 5% compounded quarterly for 6 years. What is the interest rate?   0.0000041 0.000041 0.0041

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section: Chapter Questions
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Mr. Santos started to deposit Php 3,500 monthly in his online bank that pays 5% compounded quarterly for 6 years. What is the interest rate?

 
  1. 0.0000041

  2. 0.000041

  3. 0.0041

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