step by step solving plsss im very law in math so plss to solve step by step thanks.On August 1,1990, Mr.Talamos borrows 9,500 pesos and agrees to pay the compounded amont on the day he pays the debt. If interest is at the rate of 5 1/2% compounded quarterly, how much must Mr. Talamos pay to discharge his obligation on january 1,2001?using table chart plss to solve the final amount

To solve this problem step by step, we need to use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the final amount
P = the principal amount (initial loan)
r = annual interest rate (in decimal form)
n = number of times interest is compounded per year
t = number of years

In this case, Mr. Talamos borrowed 9,500 pesos, the interest rate is 5 1/2% (or 0.055 in decimal form), and interest is compounded quarterly. The loan is for a period of 10 years (from August 1, 1990, to January 1, 2001).

Let's break down the calculation step by step:

Step 1: Convert the annual interest rate to its decimal form.
r = 5 1/2% = 5.5% = 0.055

Step 2: Determine the number of times interest is compounded per year.
In this case, interest is compounded quarterly, so n = 4.

Step 3: Calculate the final amount using the compound interest formula.
A = 9,500(1 + 0.055/4)^(4*10)
A = 9,500(1.01375)^40

At this point, we can use a table/chart to find the value of (1.01375)^40. Start with 1.01375 and raise it to the power of 1, then continue multiplying the result by itself until you reach the desired power of 40. You can use a calculator or a spreadsheet software like Excel for this calculation.

After finding the value of (1.01375)^40, multiply it by the principal amount (9,500 pesos) to find the final amount, A.

I hope these steps help you solve the problem.