Alonzo deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At the end of 5 years, he started his annual deposits of P30,000. How much is his future account balance after he made his 4th annual deposit?

Alonzo deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At the end of 5 years, he started his annual deposits of P30,000. How much is his future account balance after he made his 4th annual deposit?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Alonzo deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At
the end of 5 years, he started his annual deposits of P30,000. How much is his future account
balance after he made his 4th annual deposit?

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