The management of a certain company deposits P1,500.00 for each of its employees in a retirement fund at the end of each year for the next 12 years. How much is each employee’s fund at the end of 12 years if it accumulates 8% for the first 8 years and 6% for the last 4 years?
The management of a certain company deposits P1,500.00 for each of its employees in a retirement fund at the end of each year for the next 12 years. How much is each employee’s fund at the end of 12 years if it accumulates 8% for the first 8 years and 6% for the last 4 years?
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
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 1RE
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The management of a certain company deposits P1,500.00 for each of its employees in a retirement fund at the end of each year for the next 12 years. How much is each employee’s fund at the end of 12 years if it accumulates 8% for the first 8 years and 6% for the last 4 years?
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