2. Draw cashflow diagram and show all solution. not in excel please A young man saved his money every quarter for 5 years into his bank account. He deposits P2,000 per quarter for the first2 years and P4,000 per quarter for the next 3 years. If the interest rate is 12% compounded bi-monthly, how much is theaccumulated after his last deposit?

In this we have to calculate the quarterly interest and from that we can get the required value.

Answered: A young man saved his money every…

A young man saved his money every quarter for 5 years into his bank a 2 years and P4,000 per quarter for the next 3 years. If the interest rate accumulated after his last deposit?

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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2. Draw cashflow diagram and show all solution. not in excel please

A young man saved his money every quarter for 5 years into his bank account. He deposits P2,000 per quarter for the first
2 years and P4,000 per quarter for the next 3 years. If the interest rate is 12% compounded bi-monthly, how much is the
accumulated after his last deposit?

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