On January 1, 2021, New Spaghetti Co. adopted a plan to accumulate P50,000,000 by December 31, 2030. New Spaghetti plans to make 10 equal annual deposits that will earn interest at 5% compounded annually. Annual deposit will to be made beginning January 1, 2021. How much should be deposited by the entity overy yoar? P30,695,662.68 P3,975,228.75 P3,785,932.14 O P32,230,445.81

On January 1, 2021, New Spaghetti Co. adopted a plan to accumulate P50,000,000 by December 31, 2030. New Spaghetti plans to make 10 equal annual deposits that will earn interest at 5% compounded annually. Annual deposit will to be made beginning January 1, 2021. How much should be deposited by the entity overy yoar? P30,695,662.68 P3,975,228.75 P3,785,932.14 O P32,230,445.81

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4P: Determining Loan Repayments Jerry Rockness needs 40,000 to pay off a loan due on December 31, 2028....

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