4. A certain principal P was invested in a fund at a rate of 14% compounded monthly for the first year, 16% compounded quarterly for the next 3 years and at 6% compounded semiannually for the remaining years. If the total money in the fund after 5 years is P94,876.81, how much is the original amount invested in the fund?
4. A certain principal P was invested in a fund at a rate of 14% compounded monthly for the first year, 16% compounded quarterly for the next 3 years and at 6% compounded semiannually for the remaining years. If the total money in the fund after 5 years is P94,876.81, how much is the original amount invested in the fund?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
![4. A certain principal P was invested in a fund at a rate of 14% compounded monthly for
the first year, 16% compounded quarterly for the next 3 years and at 6% compounded
semiannually for the remaining years. If the total money in the fund after 5 years is
P94,876.81, how much is the original amount invested in the fund?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdff89607-66f5-4cb4-8e83-4a60bfa7ae5f%2F071b4db2-9db2-409f-b7c2-0444e17f7561%2Fa8gl9v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. A certain principal P was invested in a fund at a rate of 14% compounded monthly for
the first year, 16% compounded quarterly for the next 3 years and at 6% compounded
semiannually for the remaining years. If the total money in the fund after 5 years is
P94,876.81, how much is the original amount invested in the fund?
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