An investor has a projected surplus income of P 1000 per year which he plans to deposit in a bank which offers an interest of 18% per annum for time deposit of over 5years. Compute how much shall the investor collect at the end of 13years, assuming he never withdraw before the 13th YEAR?

An investor has a projected surplus income of P 1000 per year which he plans to deposit in a bank which offers an interest of 18% per annum for time deposit of over 5years. Compute how much shall the investor collect at the end of 13years, assuming he never withdraw before the 13th YEAR?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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2. An investor has a projected surplus income of P 1000 per year which he plans to deposit in a bank which offers an interest of 18% per annum for time deposit of over 5years. Compute how much shall the investor collect at the end of 13years, assuming he never withdraw before the 13^thYEAR?

ANSWER = 4221,866.28

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