The fund after six years is 123,514.09.
Given that,
- Peter started to deposit 5000 philippine pesos quarterly in a fund that pays 1% compounded interest. The rate is 0.25% quarter.
- The time period is 6 years so quarterly it is 24.
Based on the above information, the calculation is as follows:
Given that,
PV = 5,000
PMT = 0
NPER = 24
RATE = 0.25%
The formula is
=-FV(RATE,NPER,PMT,PV,TYPE)
After applying the above formula, the future value be 123,514.09.
Learn more: brainly.com/question/24169758
