17. P100,000 was placed in a time deposit which earned 9% compounded quarterly tax free. After how many years would it be able to earn a total interest of P50,000? а. 4.56 years с. 3.45 years b. 4.23 years d. 3.64 years

17. P100,000 was placed in a time deposit which earned 9% compounded quarterly tax free. After how many years would it be able to earn a total interest of P50,000? а. 4.56 years с. 3.45 years b. 4.23 years d. 3.64 years

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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Question

17. P100,000 was placed in a time deposit which earned
9% compounded quarterly tax free. After how many
years would it be able to earn a total interest of
P50,000?
c. 3.45 years
a. 4.56 years
b. 4.23 years
d. 3.64 years

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