How much must be deposited at 12% each year beginning on January 1, year 1, in order to accumulate P10, 000.00 on the date of the last deposit, January 1, year 8? a P183.00 b. P831.00 c P823.00 d. P813.00

How much must be deposited at 12% each year beginning on January 1, year 1, in order to accumulate P10, 000.00 on the date of the last deposit, January 1, year 8? a P183.00 b. P831.00 c P823.00 d. P813.00

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 10PROB

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Question

How much must be deposited at 12% each year beginning on January 1, year 1, in order to accumulate P10, 000.00 on the date of the last deposit, January 1, year 8?

a P183.00

b. P831.00

c P823.00

d. P813.00

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