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19. An investment of P300 is made at the beginning of each month for 4 years and 3 months. How much will the investment be at the end of the term, if interest is 7% compounded monthly?

19. An investment of P300 is made at the beginning of each month for 4 years and 3 months. How much will the investment be at the end of the term, if interest is 7% compounded monthly?

EBK CFIN
EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 21PROB
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Answer no. 19 only.
D. ANNUITY DUE PROBLEMS: 19. An investment of P300 is made at the beginning of each month for 4 years and 3 months. How much will the investment be at the end of the term, if interest is 7% compounded monthly? 20. Find the cash equivalent of an item that was purchased for P1,900 down payment and P350 at the beginning of each six months for 3 years and 6 months, if interest is 5% compounded semi-annually. 21. Philip wants to have P30,000 for his traveling expenses four years from now. How much must he save at the beginning of each quarter starting now, if he gets 6% compounded quarterly interest on his savings? - 22. An investment of P750 is made at the beginning of six months for 10 years and 6 months. How much will the investment be worth at the end of the term, if interest is 3% compounded semi-annually?
Transcribed Image Text:D. ANNUITY DUE PROBLEMS: 19. An investment of P300 is made at the beginning of each month for 4 years and 3 months. How much will the investment be at the end of the term, if interest is 7% compounded monthly? 20. Find the cash equivalent of an item that was purchased for P1,900 down payment and P350 at the beginning of each six months for 3 years and 6 months, if interest is 5% compounded semi-annually. 21. Philip wants to have P30,000 for his traveling expenses four years from now. How much must he save at the beginning of each quarter starting now, if he gets 6% compounded quarterly interest on his savings? - 22. An investment of P750 is made at the beginning of six months for 10 years and 6 months. How much will the investment be worth at the end of the term, if interest is 3% compounded semi-annually?
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