Madam plans to fund his individual retirement account with the maximum contribution of P20,000 at the end of each year for the next 10 years. If Madam can earn 10% on his contributions, how much will he have at the end of the tenth year? (rounded) P122,900 P318,740 P200,000 P518,800 P423,050
Madam plans to fund his individual retirement account with the maximum contribution of P20,000 at the end of each year for the next 10 years. If Madam can earn 10% on his contributions, how much will he have at the end of the tenth year? (rounded) P122,900 P318,740 P200,000 P518,800 P423,050
Chapter2: Career Planning
Section: Chapter Questions
Problem 3DTM
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- Madam plans to fund his individual retirement account with the maximum contribution of P20,000 at the end of each year for the next 10 years. If Madam can earn 10% on his contributions, how much will he have at the end of the tenth year? (rounded)
- P122,900 P318,740
- P200,000 P518,800
- P423,050
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