Ms. Lun is earning P20,000 per month. She plans to invest in an insurance company an amount equivalent to 10% for his earnings. The insurance company offers 10% percent on his annual contributions at the end of each year, how much will she have at the end of the tenth year? a. 12,290 b. 20,000 c. 31,874 d. 382,498
Ms. Lun is earning P20,000 per month. She plans to invest in an insurance company an amount equivalent to 10% for his earnings. The insurance company offers 10% percent on his annual contributions at the end of each year, how much will she have at the end of the tenth year? a. 12,290 b. 20,000 c. 31,874 d. 382,498
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 10E
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Question
Ms. Lun is earning P20,000 per month. She plans to invest in an insurance company an amount equivalent to 10% for his earnings. The insurance company offers 10% percent on his annual contributions at the end of each year, how much will she have at the end of the tenth year?
a. 12,290
b. 20,000
c. 31,874
d. 382,498
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