II. Formula: Finding Rate/Finding Time= x 100 P = m log1 + 1) 4. On April 18, 2010, a man invested P60,000 in a bank that gives 17% interest converted quarterly. If he decides to withdraw his money once it accumulates to 78,689.25, when should he make his withdrawal?

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 2MC
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=√(5²-1×100
II. Formula: Finding Rate/Finding Time=m
x 100
log
F
P
mlog(1+i)
4. On April 18, 2010, a man invested P60,000 in a bank that gives 17% interest converted
quarterly. If he decides to withdraw his money once it accumulates to 78,689.25, when
should he make his withdrawal?
Transcribed Image Text:=√(5²-1×100 II. Formula: Finding Rate/Finding Time=m x 100 log F P mlog(1+i) 4. On April 18, 2010, a man invested P60,000 in a bank that gives 17% interest converted quarterly. If he decides to withdraw his money once it accumulates to 78,689.25, when should he make his withdrawal?
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