A fund for replacement of a machinery in a plant must have P 30,000 at the end of 9 years. An equal deposit of P2965 was made on the fund at the end of each 6 months for 4 years only. How much is the rate of the fund invested if it is compounded semi annually.
A fund for replacement of a machinery in a plant must have P 30,000 at the end of 9 years. An equal deposit of P2965 was made on the fund at the end of each 6 months for 4 years only. How much is the rate of the fund invested if it is compounded semi annually.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...
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19. A fund for replacement of a machinery in a plant must have P 30,000 at the end of 9 years. An equal deposit of P2965 was made on the fund at the end of each 6 months for 4 years only. How much is the rate of the fund invested if it is compounded semi
annually.
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