A student needs P4000 per year for 4 years to attend college. Her father invested P5000 ina 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 O P1,500 P1,690
A student needs P4000 per year for 4 years to attend college. Her father invested P5000 ina 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 O P1,500 P1,690
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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?
O P1,880
O P1,700
O P1,500
P1,690
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