An annual deposit of P1,500.00 is placed on a fund at the end of each year for 6 years. If the fund investedhas a rate of interest of 5% compounded annually, how much is the worth of this fund at the end of 9years?O a. P11,118.10O b. P11,821.10O c. P11,181.10O d. P11,811.10

Future value = C * (((1+i)n-1)/i) * (1+i)t Where C = cash flow per period (P1,500) i = interest…

Answered: An annual deposit of P1,500.00 is…

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 6E

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An annual deposit of P1,500.00 is placed on a fund at the end of each year for 6 years. If the fund invested has a rate of interest of 5% compounded annually, how much is the worth of this fund at the end of 9 years? O a. P11,118.10 O b. P11,821.10 O c. P11,181.10 O d. P11,811.10