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At what rate converted quarterly will P 20,000 grow to P 60,000 in 9 years. a. 12.39% b. 8.53% C. 51.93% d. 48.07% How much must a 15-year old boy deposit in a bank that pays 11% compounded quarterly so that after 10 years he will have P 1,000,000? a. P 295,987.39 b. P 345,650.42 c. P 337,852.22 d. P 283,942.09

At what rate converted quarterly will P 20,000 grow to P 60,000 in 9 years. a. 12.39% b. 8.53% C. 51.93% d. 48.07% How much must a 15-year old boy deposit in a bank that pays 11% compounded quarterly so that after 10 years he will have P 1,000,000? a. P 295,987.39 b. P 345,650.42 c. P 337,852.22 d. P 283,942.09

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At what rate converted quarterly will P 20,000 grow to P 60,000 in 9 years. a. 12.39% b. 8.53% O c. 51.93% d. 48.07% (3) How much must a 15-year old boy deposit in a bank that pays 11% compounded quarterly so that after 10 years he will have P 1,000,000? 4 a. P 295,987.39 b. P 345,650.42 c. P 337,852.22 d. P 283,942.09
Transcribed Image Text:At what rate converted quarterly will P 20,000 grow to P 60,000 in 9 years. a. 12.39% b. 8.53% O c. 51.93% d. 48.07% (3) How much must a 15-year old boy deposit in a bank that pays 11% compounded quarterly so that after 10 years he will have P 1,000,000? 4 a. P 295,987.39 b. P 345,650.42 c. P 337,852.22 d. P 283,942.09
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