1.WHAT IS THE AMOUNT OF MATURITY VALUE OF AN LOAN P20,000 AT 6% COMPOUND INTERES FOR 3 YEARS
A. P23,802.32
B. P23,820.32
C. P23,028.32
D. P32,820.32

Answer: C. ₱23,028.32 Step-by-step solution: - Formula: A = P(1 + r/n)^(nt) - A = Maturity value- P = Principal amount (₱20,000)- r = Annual interest rate (6% or 0.06)- n = Number of times interest is compounded per year (Assuming it's compounded annually, n = 1)- t = Time in years (3 years)- Calculation: - A = 20000(1 + 0.06/1)^(1*3)- A = 20000(1.06)^3- A ≈ ₱23,028.32- convert the percentage interest rate to a decimal before using it in the formula.

Answered by lyrakimberly088 | 2024-10-26