Bradley Erickson
07/11/2023 · Senior High School
Every three months, Lisa deposits Php 1,500 into a savings account that earns interest at \( 8 \% \) per annum, compounded quarterly. The first deposit was made when Lisa's daughter was 1 year old, and the last deposit was made when she turned 9 years old. The money remained in the account and was given to her on her 10 th birthday. How much did she receive?
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Lisa's daughter will receive approximately Php 98,940 on her 10th birthday.
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