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? A. P 4,880.00 B. P 4,820.00 C. P 4,860.00 D. P 4,840.00

P 4,880.00
P 4,820.00
P 4,860.00
P 4,840.00

The correct answer is A. P 4,880.00.

Miss Calledo deposited P 1,000 at the end of the 2nd year. This amount will earn interest for 2 years at 10% per annum. The interest earned is P 100.

Miss Calledo deposited P 1,500 at the end of the 3rd year. This amount will earn interest for 1 year at 10% per annum. The interest earned is P 150.

Miss Calledo deposited P 2,000 at the end of the 4th year. This amount will earn interest for 1 year at 10% per annum. The interest earned is P 200.

The total amount in the account at the end of the 4th year is P 1,000 + P 100 + P 1,500 + P 150 + P 200 = P 4,880.00.

Option A is the only option that is equal to P 4,880.00. The other options are incorrect because they do not take into account the interest earned on the deposits.

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