A civil engineer plans to own a 300 m² lot after 5 years for an estimated cos 570,000. To accumulate this amount, he will make equal year-end deposits i und earning 12% compounded annually. However, at the end of the 2nd year, married his girlfriend and decided to build a 250,000 worth house on the lot he planning to buy. What should be his annual deposits for the last 3 years? ANS. P 163,810.80
A civil engineer plans to own a 300 m² lot after 5 years for an estimated cos 570,000. To accumulate this amount, he will make equal year-end deposits i und earning 12% compounded annually. However, at the end of the 2nd year, married his girlfriend and decided to build a 250,000 worth house on the lot he planning to buy. What should be his annual deposits for the last 3 years? ANS. P 163,810.80
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
Related questions
Question
Compute the given problem and provide cashflow diagram.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps with 4 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning