Mrs. Christell Lee deposited Php50,000 now in an account for the college education of her 3-yeard old daughter. If the account makes 14% effective, how much will the daughter get annually starting from her 18th to the 23rd birthday?
Mrs. Christell Lee deposited Php50,000 now in an account for the college education of her 3-yeard old daughter. If the account makes 14% effective, how much will the daughter get annually starting from her 18th to the 23rd birthday?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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Transcribed Image Text:Mrs. Christell Lee deposited Php50,000 now in an account for the college education of
her 3-yeard old daughter. If the account makes 14% effective, how much will the
daughter get annually starting from her 18th to the 23rd birthday?
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