1. Mr. Lee decided to sell their farm and to deposit the fund in a bank. After computing the interest, they learned that they may withdraw Php 500,000.00 yearly for 8 years starting at the end of 6 years when it is time for him to retire. How much is the fund deposited if the interest rate is 4.5% converted annually? 2. A group of medical students decided to invest the money they eamed from the fund-raising project. After 6 months from today, they want to withdraw from this fund Php 10,000.00 quarterly for 1 year to fund their medical mission. How much is the total deposit now if the interest rate is 3% converted quarterly? 3. Bella converted her loan to light payments which gives her an option to pay Php 13,000.00 every 2 years for 8 years. The first payment is due 4 years from now. How much is the amount of the loan if the interest rate is 9% converted every 2 years?

1. Mr. Lee decided to sell their farm and to deposit the fund in a bank. After computing the interest, they learned that they may withdraw Php 500,000.00 yearly for 8 years starting at the end of 6 years when it is time for him to retire. How much is the fund deposited if the interest rate is 4.5% converted annually? 2. A group of medical students decided to invest the money they eamed from the fund-raising project. After 6 months from today, they want to withdraw from this fund Php 10,000.00 quarterly for 1 year to fund their medical mission. How much is the total deposit now if the interest rate is 3% converted quarterly? 3. Bella converted her loan to light payments which gives her an option to pay Php 13,000.00 every 2 years for 8 years. The first payment is due 4 years from now. How much is the amount of the loan if the interest rate is 9% converted every 2 years?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 23E

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