raw the cash-flow diagram if neccesary 4) A P3 million donation was given by a rich man to a foundation that cares for elderly people without shelters. This donation was then invested to a fund that earns an interest rate of 12% effective. The amount in the fund will provides an equal-beginning of a monthly medical expenses of P 37, 500 at the start of investment for the elderly as long as the amount is available. a) How long will it lasts? b) What available amount would be in the fund after the last monthly expense? Is show the solution. Thanks

raw the cash-flow diagram if neccesary 4) A P3 million donation was given by a rich man to a foundation that cares for elderly people without shelters. This donation was then invested to a fund that earns an interest rate of 12% effective. The amount in the fund will provides an equal-beginning of a monthly medical expenses of P 37, 500 at the start of investment for the elderly as long as the amount is available. a) How long will it lasts? b) What available amount would be in the fund after the last monthly expense? Is show the solution. Thanks

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 17P: Comprehensive The following are three independent situations: 1. K. Herrmann has decided to set up a...

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