Question 9 In order to save for her high school graduation, Luisa decided to save PhP500 at the end of each month. If the bank pays 0.5% compounded quarterly, how much will be in her account after 6 years? Note: Round-off the equivalent rate to 6 decimal places. A) PhP36,536.85 B PhP36,563.85 с PhP36,356.85 D) PhP36,635.85
Question 9 In order to save for her high school graduation, Luisa decided to save PhP500 at the end of each month. If the bank pays 0.5% compounded quarterly, how much will be in her account after 6 years? Note: Round-off the equivalent rate to 6 decimal places. A) PhP36,536.85 B PhP36,563.85 с PhP36,356.85 D) PhP36,635.85
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.18E
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![Question 9
In order to save for her high school graduation,
Luisa decided to save PhP500 at the end of each
month. If the bank pays 0.5% compounded
quarterly, how much will be in her account after 6
years?
Note: Round-off the equivalent rate to 6 decimal
places.
A) PhP36,536.85
B PhP36,563.85
с PhP36,356.85
D) PhP36,635.85](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Febf7d435-b952-4fea-bb66-91587ba75956%2F590aa153-e294-46b9-9ca7-4ea51221543f%2Fes9sakl_processed.png&w=3840&q=75)
Transcribed Image Text:Question 9
In order to save for her high school graduation,
Luisa decided to save PhP500 at the end of each
month. If the bank pays 0.5% compounded
quarterly, how much will be in her account after 6
years?
Note: Round-off the equivalent rate to 6 decimal
places.
A) PhP36,536.85
B PhP36,563.85
с PhP36,356.85
D) PhP36,635.85
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