Erwin is 27 years old and he saw a bank offering a time deposit plan with 6% interest. He does not know how often the bank calculates interest but he is interested. If he plans to take the offer and...

Extracted text: Erwin is 27 years old and he saw a bank offering a time deposit plan with 6% interest. He does not know how often the bank calculates interest but he is interested. If he plans to take the offer and wants a sum of Php 20,000 in 10 years, how much should he start his deposit? 11,000 pesos 10,000 pesos O 12,000 pesos