A man deposited P5,000 in a bank at a rate of 10% per annum for 8months and 25days. Find the accumulated amount. P5368.05 P5468.05 P5568.05 P5668.05

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 2MC
icon
Related questions
Question
100%

I'll rate! 

A man deposited P5,000 in a bank at a rate of 10% per annum for 8months and 25days. Find the accumulated amount.
P5368.05
P5468.05
P5568.05
P5668.05
Transcribed Image Text:A man deposited P5,000 in a bank at a rate of 10% per annum for 8months and 25days. Find the accumulated amount. P5368.05 P5468.05 P5568.05 P5668.05
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Effective Annual Rate Of Return
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Corporate Fin Focused Approach
Corporate Fin Focused Approach
Finance
ISBN:
9781285660516
Author:
EHRHARDT
Publisher:
Cengage