On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?
On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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3. On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?
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