Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8% compounded monthly. How much is the present value of his savings at the end of the 8th month? (A) 40,000 php B)28.733.19 php C)33,314.92 php D)38,826.19 php

Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8% compounded monthly. How much is the present value of his savings at the end of the 8th month? (A) 40,000 php B)28.733.19 php C)33,314.92 php D)38,826.19 php

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Question

Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8% compounded monthly. How much is the present value of his savings at the end of the 8th month?

(A) 40,000 php

B)28.733.19 php

C)33,314.92 php

D)38,826.19 php

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