Mr. Lopez is planning for her retired life. He has 10 more years of service. He would like to deposit 20% of his salary, which is P 5,000, at the end of the first year, and thereafter he wishes to deposit the amount with an annual increase of P 500 for the next 9 years with an interest rate of 12%. What is the total amount at the end of the 10th year of the above series? 

a. P 115,560.25 

b. P 119,196.80 

c. P 99,880.38 

d. P 94,078.94

Answer rating: 100% (QA)

Correct answer P 11556025 deposi... View the full answer