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? A P82,231 B P74,611 P68,433 P71,311
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? A P82,231 B P74,611 P68,433 P71,311
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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