Question
Friends, Tom, Jerry and Amy decided to save money in funds that earns 12% compounded monthly but on different ways. Tom decided to save by
Friends, Tom, Jerry and Amy decided to save money in funds that earns 12% compounded monthly but on different ways. Tom decided to save by making an end of month deposit of P 800 on the first month; increasing the next months deposit by 10% of the deposit in the preceding month. Gerry decided to save P1000 on the first month; increasing the next months deposit by P 100 of the deposit in the preceding month. On the other hand, Amy decided to save by just making an equal deposit of P1,500 monthly. How much are their individual saving after a year?
(can i have a detailed computation please) thank you
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