Alonzo deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At the end of 5 years, he started his annual deposits of P30,000. How much is his future account balance after he made his 4th annual deposit?

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Alonzo deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At
the end of 5 years, he started his annual deposits of P30,000. How much is his future account
balance after he made his 4th annual deposit?
Transcribed Image Text:Alonzo deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At the end of 5 years, he started his annual deposits of P30,000. How much is his future account balance after he made his 4th annual deposit?
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