At the birth of a child, what sum should his father invest in order to provide the child with Php 3 500 000 at age 21 if the money earns 20 % compounded quarterly a. Php 51 228.16 b. Php 61 258.32 c. Php 58 098.76 d. Php 47,658.12

At the birth of a child, what sum should his father invest in order to provide the child with Php 3 500 000 at age 21 if the money earns 20 % compounded quarterly a. Php 51 228.16 b. Php 61 258.32 c. Php 58 098.76 d. Php 47,658.12

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter7: Tax Credits

Section: Chapter Questions

Problem 12MCQ

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Question

At the birth of a child, what sum should his father invest in order to provide the child with Php 3 500 000 at age 21 if the money earns 20 % compounded quarterly

a. Php 51 228.16

b. Php 61 258.32

c. Php 58 098.76

d. Php 47,658.12

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