Consider the case of Lola Clara. When she was 24 years old, her Papa gave her PHP50,000. She was very happy and was immediately planning on spending the money. However, before she could spend the money, her Mama taught her the importance of saving. Not wanting to disappoint her Mama, she invested her money in a bank time deposit with an interest rate of 5% at that time. Lola Clara became a very successful career woman, but she somehow forgot that she placed PHP50,000 in the bank. She suddenly remembered and was shocked at what had happened to her money after 50 years. It is now valued at P573,369.99 What do you think happens to money through time if you A. Keep it at home B. Save it in the bank C. Invest it (Answer all these three on your essay) Do you think the story of Lola Clara is something that is possible to happen in real life? Why or why not? If you were Lola Clara, what would you do with your P50,000? Would you spend, save or invest it? Why?
Consider the case of Lola Clara. When she was 24 years old, her Papa gave her PHP50,000. She was very happy and was immediately planning on spending the money. However, before she could spend the money, her Mama taught her the importance of saving. Not wanting to disappoint her Mama, she invested her money in a bank time deposit with an interest rate of 5% at that time. Lola Clara became a very successful career woman, but she somehow forgot that she placed PHP50,000 in the bank. She suddenly remembered and was shocked at what had happened to her money after 50 years. It is now valued at P573,369.99 What do you think happens to money through time if you A. Keep it at home B. Save it in the bank C. Invest it (Answer all these three on your essay) Do you think the story of Lola Clara is something that is possible to happen in real life? Why or why not? If you were Lola Clara, what would you do with your P50,000? Would you spend, save or invest it? Why?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Consider the case of Lola Clara. When she was 24 years old, her Papa gave her PHP50,000. She was very happy and was immediately planning on spending the money. However, before she could spend the money, her Mama taught her the importance of saving. Not wanting to disappoint her Mama, she invested her money in a bank time deposit with an interest rate of 5% at that time.
Lola Clara became a very successful career woman, but she somehow forgot that she placed PHP50,000 in the bank. She suddenly remembered and was shocked at what had happened to her money after 50 years.
It is now valued at P573,369.99
What do you think happens to money through time if you
A. Keep it at home
B. Save it in the bank
C. Invest it
(Answer all these three on your essay)
Do you think the story of Lola Clara is something that is possible to happen in real life? Why or why not?
If you were Lola Clara, what would you do with your P50,000? Would you spend, save or invest it? Why?
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