2. By the conditions of a will, the sum of P25000 is left to a girl to be held in trust by her guardian until it amounts to P45,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?
2. By the conditions of a will, the sum of P25000 is left to a girl to be held in trust by her guardian until it amounts to P45,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 14MCQ
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Note: Please sketch the cash-flow diagram.
![2. By the conditions of a will, the sum of P25000 is left to a girl to be held in
trust by her guardian until it amounts to P45,000. When will the girl receive
the money if the fund is invested at 8% compounded quarterly?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54d8b181-f647-4e5e-ad83-d07600fef95e%2F7cd0e4fb-6189-4254-811e-3494320e0851%2Fyzi5aah_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. By the conditions of a will, the sum of P25000 is left to a girl to be held in
trust by her guardian until it amounts to P45,000. When will the girl receive
the money if the fund is invested at 8% compounded quarterly?
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