For numbers 4 to 5: Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. 4. Which of the following refers to the monthly rate? A. 1.25% B. 15% C. 12% D. 0.0125% 5. Which of the following refers to the total number of deposits? A. 12 B. 60 C. 48 D. 5
For numbers 4 to 5: Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. 4. Which of the following refers to the monthly rate? A. 1.25% B. 15% C. 12% D. 0.0125% 5. Which of the following refers to the total number of deposits? A. 12 B. 60 C. 48 D. 5
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 13E
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For numbers 4 to 5: Maria wants to have ₱750,000.00 at the end of 4 years for her graduation
expenses. She plans to deposit a certain amount at the end of each month to achieve this.
Her bank pays 15% compounded monthly.
4. Which of the following refers to the monthly rate?
A. 1.25%
B. 15%
C. 12%
D. 0.0125%
5. Which of the following refers to the total number of deposits?
A. 12
B. 60
C. 48
D. 5
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