The parent wishes to prepare the future of their 10 year old son. Determine the monthly savings that the parent should make with interest of 8.12% per annum to amount P1,200,000.00 at the time his son will be 18. O a. P8,951.74

The parent wishes to prepare the future of their 10 year old son. Determine the monthly savings that the parent should make with interest of 8.12% per annum to amount P1,200,000.00 at the time his son will be 18. O a. P8,951.74

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 14MCQ

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Question

The parent wishes to prepare the future of their 10 year old son. Determine the
monthly savings that the parent should make with interest of 8.12% per annum to
amount P1,200,000.00 at the time his son will be 18.
Oa. P8,951.74
O b. P8,915.74
O c. P8,519.74
d. P8,195.74

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