A teacher saves P5,000 every 6 months in the bank that pays 0.25% compounded monthly. How much will be her savings after 10 ears?

Answers

Answer 1

Answer: $101,197

Explanation:

First find the periodic interest rate for 6 months because the rate is per year.

= 0.25% / 2

= 0.125%

There are 2 semi annual periods in a year so in 10 years:

= 2 * 10

= 20 periods

Use future value of annuity formula:

= Amount * ((1 + rate)^periods - 1) / rate

= 5,000 * (( 1 + 0.125%) ²⁰ - 1) / 0.125%

= $101,196.45

= $101,197


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During the Gupta period agriculture formed a significant part of the empire's economy. However, the trade and commerce activities of the Gupta Empire grew steadily. The merchant and other traders were organized into guilds. These guilds were given concessions in the taxes that were liable to be paid to the government.

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How did the Fenians help the cause of union for the British North American colonies?
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The Fenians — Irish-American veterans of the American Civil War — hoped to conquer Canada and trade it for Irish independence from Britain. Instead, Britain's North American colonies united against them in mutual defence, thereby contributing to the achievement of Confederation.

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Answer:

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Answers

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