Solution: What is accumulated amount of P10,000 after 10 years?

A nominal interest of 3% compounded continuously is given on the account. What is accumulated amount of P10,000 after 10 years.

What is accumulated amount of P10,000 after 10 years?

Problem Statement: ME Board October 1997

A nominal interest of 3% compounded continuously is given on the account. What is accumulated amount of P10,000 after 10 years.

  • A. P13,620.10
  • B. P13,500.10
  • C. P13,650.20
  • D. P13,498.60

Problem Answer:

The accumulated amount of P10,000 after 10 years is P13,498.60

Solution:

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