On her recent birthday, April 22, 2001, Nicole was given by her mother a certain sum of money as birthday present. She decided to invest the said amountof 20% exact simple interest. If the account will mature on Christmas day at an amount P10,000.00, how much did Nicole receive from her mother on her birthday?  Draw the cash flow diagramwith your solution

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 3MC: Refer to the present value table information on the previous page. If Kathleen put 3,000 in a...
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On her recent birthday, April 22, 2001, Nicole was given by her mother a certain sum of money as birthday present. She decided to invest the said amountof 20% exact simple interest. If the account will mature on Christmas day at an amount P10,000.00, how much did Nicole receive from her mother on her birthday?  Draw the cash flow diagramwith your solution.

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