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How much will bill have in the account at the end of years

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Problem 1: If P100,000 is placed in an account that earns a nominal 4%, compounded quarterly, what will it be worth in 5 years?

A. P105,100

B. P117,480

C. P120,900

D. P122,020

E. P135,410

Problem 2: Bill plans to deposit P200 into a bank account at the end of every month. The bank account has a nominal interest rate of 8% and interest is compounded monthly. How much will Bill have in the account at the end of 2½ years?

A. P502.50

B. P 5,232.43

C. P6,594.88

D. P6,617.77

E. P22,656.74

Reference no: EM132826604

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