Belinda invested a sum of money for her two-year-old child education in the amount of fifty thousand pesos at the rate of 10 ½% compounded quarterly. After a year, she added another fifty thousand on her investment. She withdraw the total amount of her investment when her child enter college at the age of 18. What is the maturity value of her investment?

Belinda invested a sum of money for her two-year-old child education in the amount of fifty thousand pesos at the rate of 10 ½% compounded quarterly. After a year, she added another fifty thousand on her investment. She withdraw the total amount of her investment when her child enter college at the age of 18. What is the maturity value of her investment?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 6E

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