At the birth of a child, what sum should his father invest in order to provide the child with Php 3 500 000 at age 21 if the money earns 20 % compounded quarterly a. Php 51 228.16 b. Php 61 258.32 c. Php 58 098.76 d. Php 47,658.12

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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At the birth of a child, what sum should his father invest in order to provide the child with Php 3 500 000 at age 21 if the money earns 20 % compounded quarterly

a. Php 51 228.16
b. Php 61 258.32
c. Php 58 098.76
d. Php 47,658.12
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