1. Mark started to deposit P18,000 semi-annually in a fund that pays 5% compounded semi-annually. How much will be in the fund after 10 years? 2. A television (TV) set is for sale at P13,499 in cash or on installment terms, P2,500 each month for the next 6 months at 9% compounded monthly. If you were the buyer, what would you prefer, cash or installment? 3. In order to have a fund of 1,000,000 at the end of 12 years, equal deposits every 6 months must be made. Find the semi-annual payment if interest is at 6% compounded annually.)
1. Mark started to deposit P18,000 semi-annually in a fund that pays 5% compounded semi-annually. How much will be in the fund after 10 years? 2. A television (TV) set is for sale at P13,499 in cash or on installment terms, P2,500 each month for the next 6 months at 9% compounded monthly. If you were the buyer, what would you prefer, cash or installment? 3. In order to have a fund of 1,000,000 at the end of 12 years, equal deposits every 6 months must be made. Find the semi-annual payment if interest is at 6% compounded annually.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 4P: Determining Loan Repayments Jerry Rockness needs 40,000 to pay off a loan due on December 31, 2028....
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