A student needs P4000 per year for 4 years to attend college. Her fathe invested P5000 in a 7% account for her education when she was born.I the student withdraws P4000 at the end of her 17th, 18th, 19th and 20th years, how much money will be left in the account at the end of her 21st year? O P1,880 O P1,700 O P1,500 O P1,690 How much money be invested today in order to withdraw P1500 per year at the end of each year for 8 years at an interest rate of 8%? P8,620 О РВ,260 Р8,206 P8,602

A student needs P4000 per year for 4 years to attend college. Her fathe invested P5000 in a 7% account for her education when she was born.I the student withdraws P4000 at the end of her 17th, 18th, 19th and 20th years, how much money will be left in the account at the end of her 21st year? O P1,880 O P1,700 O P1,500 O P1,690 How much money be invested today in order to withdraw P1500 per year at the end of each year for 8 years at an interest rate of 8%? P8,620 О РВ,260 Р8,206 P8,602

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

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