A group of mountaineers decided to invest the money they earned from the fund-raising project. After 6 months from today, they want to withdraw from this fund P8,500 quarterly for 1 year to fund their mountain climbing. How much is the total deposit now if the interest rate is 5% converted quarterly? A. P43.075.34 B. P 36.735.41 C. P 32.556.54 D. P 23.655.54
A group of mountaineers decided to invest the money they earned from the fund-raising project. After 6 months from today, they want to withdraw from this fund P8,500 quarterly for 1 year to fund their mountain climbing. How much is the total deposit now if the interest rate is 5% converted quarterly? A. P43.075.34 B. P 36.735.41 C. P 32.556.54 D. P 23.655.54
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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![20. A group of mountaineers decided to invest the money they earned from the
fund-raising project. After 6 months from today, they want to withdraw from this
fund P 8,500 quarterly for 1 year to fund their mountain climbing. How much is
the total deposit now if the interest rate is 5% converted quarterly?
A. P 43.075.34
B. P 36,735.41
C.P 32.556.54
D. P 23,655.54](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc870e3c1-dffb-4b7f-8459-3c6b5aceafe0%2F4e9869b0-1c88-46ae-8d80-b1d439ddbffc%2Fa0tg5n7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:20. A group of mountaineers decided to invest the money they earned from the
fund-raising project. After 6 months from today, they want to withdraw from this
fund P 8,500 quarterly for 1 year to fund their mountain climbing. How much is
the total deposit now if the interest rate is 5% converted quarterly?
A. P 43.075.34
B. P 36,735.41
C.P 32.556.54
D. P 23,655.54
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