Math pls patulong You are a bank financier. Your bank pays an annual interest rate of 3% compounded
quarterly. If the initial deposit (or principal), of your client is Php 50 000, find the
balance after 5 years.

You have to show the balance of Php 50 000 after 5 years if the bank pays an interest
rate of 3% compounded annually. Which gives a higher interest between the two?
Explain.