By conditions of a will, the sum of P 20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P 50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly? a. 11.23 years b. 11.46 years c. 11.57 years d. 11.87 years
By conditions of a will, the sum of P 20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P 50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly? a. 11.23 years b. 11.46 years c. 11.57 years d. 11.87 years
Chapter1: Making Economics Decisions
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![16. By conditions of a will, the sum of P 20,000 is left to a girl to be held in trust fund by her guardian until it
amounts to P 50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?
a. 11.23 years
b. 11.46 years
c. 11.57 years
11.87 years
d.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9a0aaa8f-50f5-4a7f-9e0c-6d9345879b4e%2Fa49a17eb-6b38-4c78-83d6-2ff0be426d67%2Fqf4qcrf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:16. By conditions of a will, the sum of P 20,000 is left to a girl to be held in trust fund by her guardian until it
amounts to P 50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?
a. 11.23 years
b. 11.46 years
c. 11.57 years
11.87 years
d.
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