2. Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to make annual deposits of PhP 40,000 for 10 years with the first payment being today. Determine the present worth of Ms. Perez's savings account. (5 pts) A. PhP 256,706.31 B. PhP 356, 706.31 C. PhP 279,809.88 D. PhP 289,908.88
2. Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to make annual deposits of PhP 40,000 for 10 years with the first payment being today. Determine the present worth of Ms. Perez's savings account. (5 pts) A. PhP 256,706.31 B. PhP 356, 706.31 C. PhP 279,809.88 D. PhP 289,908.88
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![2. Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She
decided to make annual deposits of PhP 40,000 for 10 years with the first payment being
today. Determine the present worth of Ms. Perez's savings account. (5 pts)
A. PhP 256,706.31
B. PhP 356, 706.31
C. PhP 279,809.88
D. PhP 289,908.88](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd71c15e1-3013-4cc1-a2d7-77e8f9594af0%2F93ebea82-5938-4903-9975-8027e0a3279e%2Fd9k02zp_processed.png&w=3840&q=75)
Transcribed Image Text:2. Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She
decided to make annual deposits of PhP 40,000 for 10 years with the first payment being
today. Determine the present worth of Ms. Perez's savings account. (5 pts)
A. PhP 256,706.31
B. PhP 356, 706.31
C. PhP 279,809.88
D. PhP 289,908.88
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