Amanda inherited P280,000 on her 30th birthday. She placed it on a pension fund which earns an interest of 12% compounded annually. On her 35th birthday she withdraw P450,000 to buy a car. On her 65th birthday she started withdrawing a uniform payment from her fund and plans to make 20 withdrawals just as to exhaust her funds. Unfortunately she died at the age of 71. If she is able to withdraw the same amount before dying how much fund is left to her heirs? P1.605.836.80

Amanda inherited P280,000 on her 30th birthday. She placed it on a pension fund which earns an interest of 12% compounded annually. On her 35th birthday she withdraw P450,000 to buy a car. On her 65th birthday she started withdrawing a uniform payment from her fund and plans to make 20 withdrawals just as to exhaust her funds. Unfortunately she died at the age of 71. If she is able to withdraw the same amount before dying how much fund is left to her heirs? P1.605.836.80

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

2.4 A man wishes to provide a fund for his retirement such that from his 60th to 70th birthdays hewill be able to withdraw equal sums of P18,000 each for his yearly expenses. He investsequal amounts from his 41st to 59th birthdays in a fund earning 10% compounded annually.How much should each of these amounts be?
Money is compounded annually at the rate of 6%, find the present value of a sequence of 12 semi- annual payments of P300.00 each, the first of which is due at the end of 4 ½ years. O a. P1,719.00 O b P1,197.00 O c. P1,179.00 O d. P1,917.00
27. How much do eight ₱ 64,055 quarterly payments amount at present, if the interest rate is 2 compounded quarterly?
Choose the best answer and provide a solution. How much will a deposit of P1,000.00 be in 20 years at an interest of 6% compounded annually? A. 5,000 B. 3,500 C. 3,207.14 D. 5,479.18
2. Find the present worth of perpetuity of P 15,000 payable monthly if money is worth 10% compounded bi-monthly. A. PhP 803,724 B. PhP 604,724 C. PhP 504,724 D. PhP 903,724
Suppose P100, 000 is deposited in an account that earns 8% compound interest that is compounded semi-annually. In how many years will the initial investment triple? a.13.01 years b.14.01 years c.14 years d.13 years As advised by your financial adviser, you started to save P15,000 and deposited it every in the beginning of each month in a bank with 6% interest compounded annually, How much is the total amount after 8 years? (Hint: Future Value of General Annuity Due) a. 4,935,561.09 b. 3,495,561.09 c. 5,493,561.09 d. 9,435,561.09
Show your completesolution.
kindly provide a clear solution. thanks
12:42 Expert Q&A Done e bond wi e wth S en and dd 1 y Howuh wod an be wilngt pay r ths bonda5 pr yr y d con te e the intrt and annly to d compunding when p yea The urnt worh ofhend oundt the ) Azero coupon bond will be worth $15,000 when it matures and is redeemed after 13 years. How much would an investor be willing to pay now for this bond if a 3% per year yield is desired? Click the icon to view the Interest and annuity table for discrete compounding when = 3% per year. The current worth of the bond is (Round to the nearest dollar)
The owner of a small business borrows 40,000 on a 2-year contract at 5% interest compounded annually, with the loan to be repaid in two equal EOY $21,512.20 installments. Complete the table below and show your work
Please show the Formula.
Four years ago, Zaldy Nevarez invested P23 900 compounded bimonthly at 12%. How much is his money now? A. P38 578.00 B. P38 578.01 C. P38 578.02 D. P38 578.03 B O A OD Find the interest earned at the end of 4 years if P36 700 is invested at 12% compounded bimonthly. A. P22 309.04 B. P22 429.04 C. P22 539.04 D. P22 359.04 O A