1. a. In a savings account 3% annual interest rate compounded monthy, P 1,000 is deposited at the end of each month. What is the value of the account at the end of 18 months? b. What income will be paid at the end of every month for 10 years if the present value is P360,000 and the interest is paid 6% monthly? c. How much money is accumulated if P 5,800 is paid at the end of every month for 4 years at 5% compounded quarterly?
1. a. In a savings account 3% annual interest rate compounded monthy, P 1,000 is deposited at the end of each month. What is the value of the account at the end of 18 months? b. What income will be paid at the end of every month for 10 years if the present value is P360,000 and the interest is paid 6% monthly? c. How much money is accumulated if P 5,800 is paid at the end of every month for 4 years at 5% compounded quarterly?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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1.
a. In a savings account 3% annual interest rate compounded monthy, P 1,000 is deposited at the end of each month. What is the value of the account at the end of 18 months?
b. What income will be paid at the end of every month for 10 years if the
c. How much money is accumulated if P 5,800 is paid at the end of every month for 4 years at 5% compounded quarterly?
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