Question
John invested P100,000 at an interest of 9% compounded quarterly. How many years should John invest the money to receive a compound interest of P50,0000?
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Step: 1
1 To find out how many years John should invest the money to receive a compound interest of P50000 we can use the compound interest formula A P left1 ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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Get StartedRecommended Textbook for
Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
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