Find the compounded interest of P7,000 for 10 years at 6% compounded monthly. Find the compounded interest of P7,000 for 10 years at 6% compounded monthly. A. P6,040.20 C. P5,735.75 B. P11,040.20 D. P12,735.75 Log in or register to post comments Solution Click here to… Jhun Vert Sat, 06/29/2024 - 21:20 Solution Click here to expand or collapse this section $I = F - P$ $I = P(1 + i)^n - P$ $I = 7000\left( 1 + \dfrac{0.06}{12} \right)^{12(10)} - 7000$ $I = 12,735.78 - 70000$ $I = \text{P}5,735.78$ Log in or register to post comments
Solution Click here to… Jhun Vert Sat, 06/29/2024 - 21:20 Solution Click here to expand or collapse this section $I = F - P$ $I = P(1 + i)^n - P$ $I = 7000\left( 1 + \dfrac{0.06}{12} \right)^{12(10)} - 7000$ $I = 12,735.78 - 70000$ $I = \text{P}5,735.78$ Log in or register to post comments
Solution Click here to…