Posted by **Alyanna** on Wednesday, July 9, 2014 at 9:41pm.

By the conditions of a will, the sum of P25,000 is left to a girl to be held in trust by her guardian until it amounts to 45,000. when will the girl receive the money if the fund is invested at 8% compounded quarterly?? please show the solution.. thank you:)

- business -
**Damon**, Wednesday, July 9, 2014 at 9:46pm
8%/4 = 2% per quarter

so every three months multiply by 1.02

25 * 1.02^n = 45

1.02^n = 1.8

n log 1.02 = log 1.8

n = 29.68 quarters

or 7.42 years

- business -
**Alyanna**, Wednesday, July 9, 2014 at 9:49pm
wooow..thanks:)

- business -
**Anonymous**, Thursday, July 7, 2016 at 8:17pm
how you get 1.02

- business -
**thea**, Monday, September 26, 2016 at 10:04am
F=P*(1+i)^n --->formula

1.02 is from (1+.02)

since 8% compounded Quarterly..

8%/4=0.02

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