4. Vincent wants to deposit Php 5,000 at the end of each quarter, for 3 years in a bank that gives 870 interest compounded quarterly. How much will be the final amount or future value of his savings after 3 years?

4. Vincent wants to deposit Php 5,000 at the end of each quarter, for 3 years in a bank that gives 870 interest compounded quarterly. How much will be the final amount or future value of his savings after 3 years?

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.17E

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LEARNING MODULE
4. Vincent wants to deposit Php 5,000 at the end of each quarter, for 3 years in a bank that gives 870
interest compounded quarterly. How much will be the final amount or future value of his savings after
3 years?

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