Suppose that Mrs. Villanueva would like to save P5.000 every month in a fund that gives 8% compounded monthly. How much is the amount or future value of her savings after 24 months? a. P121.986.25 b. P166,788.89 c. P145,665.78 d. P129,665.95

Suppose that Mrs. Villanueva would like to save P5.000 every month in a fund that gives 8% compounded monthly. How much is the amount or future value of her savings after 24 months? a. P121.986.25 b. P166,788.89 c. P145,665.78 d. P129,665.95

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 13E

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Concept explainers

Income Statement

Income Statement also commonly called a profit and loss statement, one of the key financial statements (considered together with balance sheet and cash flow statement) which shows the revenues and expenses, as well as the gains and losses of a company for a given period. In other words, it presents the financial performance/profitability of a business over a specified accounting period.

Question

Suppose that Mrs. Villanueva would like to save P5,000 every month in a fund that
gives 8% compounded monthly. How much is the amount or future value of her
savings after 24 months?
a. P121.986.25
b. P166,788.89
c. P145,665.78
d. P129,665.95

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