Homework Help is Here – Start Your Trial Now!
Business
Finance
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

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
Problem 1PS
See similar textbooks
icon
Related questions
Question
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
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
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS