When you were in Grade 1, your parents opened a small savings account for your future schooling and deposited ₱50,000. The bank gives 2% interest compounded yearly, and they decided to leave the money untouched until you finish Grade 12, which is exactly 12 years later. How much will the account be worth after 12 years?, ₱63,412.09, ₱64,312.09, ₱64,319.02, ₱69,412.03, A senior high school student plans to buy a new laptop for college. To prepare early, he wants to place money in a bank time‑deposit account that earns 1.1% interest compounded annually. His goal is to have ₱200,000 saved after 6 years. How much should he deposit now to reach his target amount?, ₱157,293.98, ₱167,293.98, ₱177,293.98, ₱187,293.98, After graduating from senior high school, you plan to work part‑time while studying engineering. To prepare for buying your first car in 5 years, you want to invest money now in a savings account that earns 10% interest compounded quarterly. You want this investment to grow to ₱800,000 by the time you’re ready to purchase the car. How much should you deposit today?, ₱488,216.75, ₱489,216.75, ₱490,216.75, ₱491,216.75, When their baby was born, a couple decided to start building an education fund early. They deposited ₱200,000 into a bank account that earns 7% interest, compounded quarterly. They plan to give the full amount to their child as a gift on their 18th birthday. How much will their child receive after 18 years?, ₱695,441.98, ₱696,441.98, ₱697,441.98, ₱698,441.98, A student deposited ₱15,000 in a savings account earning 3% interest compounded annually. How much total interest did the student earn after 4 years?, ₱1,822.63, ₱1,500.00, ₱1,950.45, ₱2,100.25.

Compound Interest

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