P500,000 was deposited at an interest of 6% compounded quarterly. Compute the compound interest after 4 years and 9 months.
Answer: P163,475.37
4 years 9 months = 19 quarters.
The interest per quarter =
The total amount after 4 years 9 months:
The total interest = 663475.37 - 500000 = P163475.37
Answer: P163475.37
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