Show complete solution. Don't use excel for solution. You need P50,000 per year for four years to go to college. Your father invested P12000 per year in a 10.120% account for your education starting from the year you were born until you were 18. If you withdraw the P50,000 at the end of your 19th, 20th, 21st, and 22nd years to aid you in your college years, how much money will be left in the account at the end of your last withdrawal?

Show complete solution. Don't use excel for solution. You need P50,000 per year for four years to go to college. Your father invested P12000 per year in a 10.120% account for your education starting from the year you were born until you were 18. If you withdraw the P50,000 at the end of your 19th, 20th, 21st, and 22nd years to aid you in your college years, how much money will be left in the account at the end of your last withdrawal?

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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