A student needs P4000 per year for 4 years to attend college. Her fathe invested P5000 in a 7% account for her education when she was born.I the student withdraws P4000 at the end of her 17th, 18th, 19th and 20th years, how much money will be left in the account at the end of her 21st year? O P1,880 O P1,700 O P1,500 O P1,690 How much money be invested today in order to withdraw P1500 per year at the end of each year for 8 years at an interest rate of 8%? P8,620 О РВ,260 Р8,206 P8,602
A student needs P4000 per year for 4 years to attend college. Her fathe invested P5000 in a 7% account for her education when she was born.I the student withdraws P4000 at the end of her 17th, 18th, 19th and 20th years, how much money will be left in the account at the end of her 21st year? O P1,880 O P1,700 O P1,500 O P1,690 How much money be invested today in order to withdraw P1500 per year at the end of each year for 8 years at an interest rate of 8%? P8,620 О РВ,260 Р8,206 P8,602
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 33P
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solve both the MCQs question with proper reason and explanation I'll give you many upvotes
![A student needs P4000 per year for 4 years to attend college. Her father
invested P5000 in a 7% account for her education when she was born. If
the student withdraws P4000 at the end of her 17th, 18th, 19th and 20th
years, how much money will be left in the account at the end of her 21st
year?
P1,880
P1,700
P1,500
O P1,690
How much money be invested today in order to withdraw P1500 per
year at the end of each year for 8 years at an interest rate of 8%?
P8,620
P8,260
P8,206
P8,602](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75d675be-6d39-4afb-b0c6-c571a17ff197%2F20b405b6-6d23-48c6-aad6-88f21d2e1d44%2Fife75v_processed.png&w=3840&q=75)
Transcribed Image Text:A student needs P4000 per year for 4 years to attend college. Her father
invested P5000 in a 7% account for her education when she was born. If
the student withdraws P4000 at the end of her 17th, 18th, 19th and 20th
years, how much money will be left in the account at the end of her 21st
year?
P1,880
P1,700
P1,500
O P1,690
How much money be invested today in order to withdraw P1500 per
year at the end of each year for 8 years at an interest rate of 8%?
P8,620
P8,260
P8,206
P8,602
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