SHOW SOLUTIONS IF NEEDED THANK U 8. If you deposit P16,000 per year for 12 years (each deposit is made at the end ofeach year) in an account that pays an annual interest rate of 14%. What will youraccount be worth at the end of 12 years?Round off you final answer to 2 decimal places. No need to add comma (,) for thousandsand above value when you answer but make sure to add the period (.) if there aredecimals. Please see example on how to answer.(Example 1: For One Thousand Pesos ONLY, you can simply type 1000 --> no comma)(Example 2: For One Thousand Pesos and Fifty Centavos, you can type 1000.50 -->with decimal point) 9. Harry Patter has just bought a lottery ticket and won $10,000. He wants to financethe future study of his newly born son and invests this money in a fund with amaturity of 18 years and offers a promising yearly return of 6%. What is the amountavailable on the 18th birthday of child?• PreviousNext

Future Value of Ordinary Annuity: The worth of a quantity of money that will be paid on a specified…

8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%. What will your account be worth at the end of 12 years?

8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%. What will your account be worth at the end of 12 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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SHOW SOLUTIONS IF NEEDED THANK U

8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of
each year) in an account that pays an annual interest rate of 14%. What will your
account be worth at the end of 12 years?
Round off you final answer to 2 decimal places. No need to add comma (,) for thousands
and above value when you answer but make sure to add the period (.) if there are
decimals. Please see example on how to answer.
(Example 1: For One Thousand Pesos ONLY, you can simply type 1000 --> no comma)
(Example 2: For One Thousand Pesos and Fifty Centavos, you can type 1000.50 -->
with decimal point)

9. Harry Patter has just bought a lottery ticket and won $10,000. He wants to finance
the future study of his newly born son and invests this money in a fund with a
maturity of 18 years and offers a promising yearly return of 6%. What is the amount
available on the 18th birthday of child?
• Previous
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