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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
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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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
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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