Mariano deposited P5,000 today in an account that pays 8% compounded semi-annually. Two years later, he deposited P2,000. Four years after his second deposit, he deposited P4,000. Three years after his last deposit, he withdrew P5,000. How much is left in his account twelve years after his first deposit?
Mariano deposited P5,000 today in an account that pays 8% compounded semi-annually. Two years later, he deposited P2,000. Four years after his second deposit, he deposited P4,000. Three years after his last deposit, he withdrew P5,000. How much is left in his account twelve years after his first deposit?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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Transcribed Image Text:2. Mariano deposited P5,000 today in an account that pays 8% compounded semi-annually. Two
years later, he deposited P2,000. Four years after his second deposit, he deposited P4,000.
Three years after his last deposit, he withdrew P5,000. How much is left in his account twelve
years after his first deposit?
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