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8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%. What will your account be worth at the end of 12 years?

8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%. What will your account be worth at the end of 12 years?

Essentials Of Investments
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
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8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%. What will your account be worth at the end of 12 years? Round off you final answer to 2 decimal places. No need to add comma (,) for thousands and above value when you answer but make sure to add the period (.) if there are decimals. Please see example on how to answer. (Example 1: For One Thousand Pesos ONLY, you can simply type 1000 --> no comma) (Example 2: For One Thousand Pesos and Fifty Centavos, you can type 1000.50 --> with decimal point)
Transcribed Image Text:8. If you deposit P16,000 per year for 12 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 14%. What will your account be worth at the end of 12 years? Round off you final answer to 2 decimal places. No need to add comma (,) for thousands and above value when you answer but make sure to add the period (.) if there are decimals. Please see example on how to answer. (Example 1: For One Thousand Pesos ONLY, you can simply type 1000 --> no comma) (Example 2: For One Thousand Pesos and Fifty Centavos, you can type 1000.50 --> with decimal point)
9. Harry Patter has just bought a lottery ticket and won $10,000. He wants to finance the future study of his newly born son and invests this money in a fund with a maturity of 18 years and offers a promising yearly return of 6%. What is the amount available on the 18th birthday of child? • Previous Next
Transcribed Image Text:9. Harry Patter has just bought a lottery ticket and won $10,000. He wants to finance the future study of his newly born son and invests this money in a fund with a maturity of 18 years and offers a promising yearly return of 6%. What is the amount available on the 18th birthday of child? • Previous Next
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