A student will receive P3,000 at the beginning of each 3 months for 4 years. What is the sum of this annuity at the end of the 4th year if the interest rate is 6% compounded quarterly? Ans. 54,604.07
A student will receive P3,000 at the beginning of each 3 months for 4 years. What is the sum of this annuity at the end of the 4th year if the interest rate is 6% compounded quarterly? Ans. 54,604.07
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 5P
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![A student will receive P3,000 at the beginning of each 3 months for 4 years. What is the sum of
this annuity at the end of the 4th year if the interest rate is 6% compounded quarterly?
Ans. 54,604.07](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F917d3115-9e5f-4f4a-a6d6-34d8f826c37c%2Fffcc6f34-26b8-47c0-a31e-17d317c10b7e%2F5a0edj6_processed.png&w=3840&q=75)
Transcribed Image Text:A student will receive P3,000 at the beginning of each 3 months for 4 years. What is the sum of
this annuity at the end of the 4th year if the interest rate is 6% compounded quarterly?
Ans. 54,604.07
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