20. If regular monthly deposits of P3,850 in a savings account amounted to P105,000 after! years, what interest rate compounded monthly was paid on the account?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please help me answer Question 20. :(
Score:
Date:
Name:
B. Solve for the following:
17. What monthly payment discounted at 9.6% compounded monthly will have a current
value of P840,000 if the payments run for 15 years?
20 Pal
18. Calculate the amount that must be invested semiannually at 8.6% compounded
semiannually in order to accumulate P1,300,000 after 20 years?
19. How long will it take to pay off P436,000 loan with monthly payments of P16,780, if them
interest rate on the loan is 15.6% compounded monthly?
20. If regular monthly deposits of P3,850 in a savings account amounted to P105,000 after 2
years, what interest rate compounded monthly was paid on the account?
164 Page
Chapter 4: Ordinary Simple Annu
Transcribed Image Text:Score: Date: Name: B. Solve for the following: 17. What monthly payment discounted at 9.6% compounded monthly will have a current value of P840,000 if the payments run for 15 years? 20 Pal 18. Calculate the amount that must be invested semiannually at 8.6% compounded semiannually in order to accumulate P1,300,000 after 20 years? 19. How long will it take to pay off P436,000 loan with monthly payments of P16,780, if them interest rate on the loan is 15.6% compounded monthly? 20. If regular monthly deposits of P3,850 in a savings account amounted to P105,000 after 2 years, what interest rate compounded monthly was paid on the account? 164 Page Chapter 4: Ordinary Simple Annu
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