FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1. You deposited PHP1,500 in a bank with an interest rate of 5% for 1
year. What
is the future value of your deposit
2. You need to save up for P1,500 in 1 year. How much should you
save now if the
bank offers a rate of 5%? (Find the present value)
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Transcribed Image Text:1. You deposited PHP1,500 in a bank with an interest rate of 5% for 1 year. What is the future value of your deposit 2. You need to save up for P1,500 in 1 year. How much should you save now if the bank offers a rate of 5%? (Find the present value)
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