4. On retirement, Gilbert finds that his share of a pension fund is P1 500 000. If the fund is invested at 6% compounded quarterly, how many years will Gilbert expect to receive P30 to 0 every three months from his investment?

PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN:9781337619783
Author:BIEG
Publisher:BIEG
Chapter4: Income Tax Withholding
Section: Chapter Questions
Problem 7QR
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4. On retirement, Gilbert finds that his share of a pension fund is P1 500 000. If the fund is
invested at 6% compounded quarterly, how many years will Gilbert expect to receive P30
to 0 every three months from his investment?
5. At the end of every 6 months for 5 years, Richard deposits P5 000 in a trust fund paying
6% compounded semiannually for his daughter's education. He then allowed the fund to
accumulate at the same interest rate for 5 more years without making any more deposits.
How much is in the fund after 10 years?
Transcribed Image Text:4. On retirement, Gilbert finds that his share of a pension fund is P1 500 000. If the fund is invested at 6% compounded quarterly, how many years will Gilbert expect to receive P30 to 0 every three months from his investment? 5. At the end of every 6 months for 5 years, Richard deposits P5 000 in a trust fund paying 6% compounded semiannually for his daughter's education. He then allowed the fund to accumulate at the same interest rate for 5 more years without making any more deposits. How much is in the fund after 10 years?
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