Answered: Kenny decided to make a P1,000 monthly…

Kenny decided to make a P1,000 monthly deposit in a fund that pays 6% compounded quarterly. How much will be in the fund after 15 years? a. P290,082.51 b. P118,729.52 c. P290,785.62 d. P199,567.25

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 9RE

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Question

Kenny decided to make a P1,000 monthly deposit in a fund that pays 6%
compounded quarterly. How much will be in the fund after 15 years?
a. P290,082.51
b. P118,729.52 c. P290,785.62
d. P199,567.25

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