Aika wishes to set aside a total of P60,000 as savings for the year 2022. She plans to deposit her savings at a bank that offers 3% annual interest rate, compounded monthly. She is deciding how to spread out these deposits during the year. For options A and B given below, determine the better option by finding the withdrawable balance by January 1, 2023. A. P30,000 deposits on June 1 and September 1, 2022 B. P20,000 deposits on June 1, August 1, and October 1, 2022

Aika wishes to set aside a total of P60,000 as savings for the year 2022. She plans to deposit her savings at a bank that offers 3% annual interest rate, compounded monthly. She is deciding how to spread out these deposits during the year. For options A and B given below, determine the better option by finding the withdrawable balance by January 1, 2023. A. P30,000 deposits on June 1 and September 1, 2022 B. P20,000 deposits on June 1, August 1, and October 1, 2022

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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