1. Monthly payment of P50 at the end of each month for four years on
account that interest at 10% compounded monthly.
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1. Monthly payment of P50 at the end of each month for four years on
account that interest at 10% compounded monthly.
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Answer:
20 PESOS
Step-by-step explanation:
PRINCIPAL = 50 PESOS
RATE = 10% OR 0.1%
TIME = 4 YEARS
50 PESOS × 0.1% = 5 PESOS
5 PESOS × 4 YEARS = 20 PESOS