By the conditions of a will, the sum of ₱25,000 is left to a girl to be held in trust by her guardian until it amounts to ₱45,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly? Ans: 7.42 years

By the conditions of a will, the sum of ₱25,000 is left to a girl to be held in trust by her guardian until it amounts to ₱45,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly? Ans: 7.42 years

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

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Ans: 7.42 years

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