Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 10% per annum. How much is in the account at the end of the 4th year?

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Academy of PakistanTest & Learning

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419Civil EngineeringMedium

AP 4,880.00

BP 4,860.00

CP 4,840.00

DP 4,820.00

Correct answer

B. P 4,860.00

Explanation

The correct answer is P 4,860.00.

Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 10% per annum. How much is in the account at the end of the 4th year? - Answer and Explanation | Academy of Pakistan