If you deposit ₱10,000 into an account that earns 5% annual interest compounded semiannually, how long will it take until there is ₱12,000 in the bank account

t = 3.69 ≈ 3. 7 years

Step-by-step explanation:

Given :

P = 10,000

r = 5%= 0.05

A = 12,000

n = 2 ( because it is compounded semi - annually )

for ex: the reciprocal of 3/4 is 4/3. it is the opposite.

reciprocal definition:

a mathematical expression or function so related to another that their product is one; the quantity obtained by dividing the number one by a given quantity.

savings account is an account only used for saving money. this acts as an emergency source of funding for an individual. answer a would result in the money in his account to grow as it specifically states that interest is compounded daily at the rate of 2%

step-by-step explanation: