Three years ago, an engineer opened a savings account with an initial deposit of P200 000.00. He withdrew P50 000.00 three months later, and another P50 000.00 six months after the first withdrawal. Last year, he deposited P100 000.00 and withdrew P150 000.00 six months later. Find the account balance today if interest is 10% compounded quarterly. (Ans. P93 717.82)

Three years ago, an engineer opened a savings account with an initial deposit of P200 000.00. He withdrew P50 000.00 three months later, and another P50 000.00 six months after the first withdrawal. Last year, he deposited P100 000.00 and withdrew P150 000.00 six months later. Find the account balance today if interest is 10% compounded quarterly. (Ans. P93 717.82)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 11EB: Whole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from...

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