Tom decides to save Php 25,000 each month for the next five years. If he starts to invest all of these savings in an account which will pay him 8% compounded scmiannually, determine the total savings/amount after 5 years. C. 1,903,508.67 D. 2,309,085.78 A. 1,830,805.60 B. 2,830,805.60

Tom decides to save Php 25,000 each month for the next five years. If he starts to invest all of these savings in an account which will pay him 8% compounded scmiannually, determine the total savings/amount after 5 years. C. 1,903,508.67 D. 2,309,085.78 A. 1,830,805.60 B. 2,830,805.60

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 20PROB

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Question

Tom decides to save Php 25,000 each month for the next five
years. If he starts to invest all of these savings in an account
which will pay him 8% compounded scmiannually, determine
the total savings/amount after 5 years.
A. 1,830,805.60
C. 1,903,508.67
B. 2,830,805.60
D. 2,309,085.78

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