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

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Q1) 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?

Q2) Assume that Richard Parker wants to deposit P1,500 now in a bank that pays interest rate of 6% compounded semiannually. What's the future value of this deposit after 5 years?

Reference no: EM132840071

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