Homework Help is Here – Start Your Trial Now!
Business
Finance
How much must a corporation deposit in a bank which credits interest at 12% compounded monthly to come up in 8 years with P2,500,000 needed for its expansion program?

How much must a corporation deposit in a bank which credits interest at 12% compounded monthly to come up in 8 years with P2,500,000 needed for its expansion program?

Accounting Information Systems
Accounting Information Systems
10th Edition
ISBN:9781337619202
Author:Hall, James A.
Publisher:Hall, James A.
Chapter9: Database Management Systems
Section: Chapter Questions
Problem 13RQ
See similar textbooks
icon
Related questions
Question
NOTE: STRICTLY USE THE GIVEN FORMULA IN THE PHOTO ATTACHED. DONT USE EXCEL 2. How much must a corporation deposit in a bank which credits interest at 12% compounded monthly to come up in 8 years with P2,500,000 needed for its expansion program? 3. In purchasing of house, a man makes P720,000 down payment and agrees to pay P1,200,000 5 years later. Find the cash value of the house if money is worth 14% compounded semi-annually. 4. On the birth of a child, a father wished to invest in a trust fund which gives 12% compounded quarterly. How much must he invest if he wants to accumulate P650,000 by the time the child reaches his 21st birthday? 5. To provide for a purchase of a car worth P950,000 as a gift to his mother 5 years from now. How much should Benjamin invest today at 18% compounded quarterly? 6. Mrs. Dela Cruz invested P70,000 at 12% compounded quarterly for 5 years and another P70,000 at 18% compounded semi-annually for the same length of time. Find the total amount of the two investments.
Please use this following Formula b FV = PV XTI FV = pv (1+i)" PV = FV (1+1)" n PV = FVXT₂ No. DATE
Transcribed Image Text:Please use this following Formula b FV = PV XTI FV = pv (1+i)" PV = FV (1+1)" n PV = FVXT₂ No. DATE
Note: 1. For the Computation of Praesent Value Using the Formula: a. P = F (₁+i)n) * Use the Finiture Value Table, then divide by the amound (F) n b. P=F((1+i) - Y to Use the Present Value Table, then multiply by (F) симания 2. For Future Value n F = P(₁+i)" Ok Yong Table sa Book
Transcribed Image Text:Note: 1. For the Computation of Praesent Value Using the Formula: a. P = F (₁+i)n) * Use the Finiture Value Table, then divide by the amound (F) n b. P=F((1+i) - Y to Use the Present Value Table, then multiply by (F) симания 2. For Future Value n F = P(₁+i)" Ok Yong Table sa Book
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer