Three years ago, an engineer opened a savings account with an initial deposit of P200 000.00. He withdrew P50 000.00 three months later, and another P50 000.00 six months after the first withdrawal. Last year, he deposited P100 000.00 and withdrew P150 000.00 six months later. Find the account balance today if interest is 10% compounded quarterly. (Ans. P93 717.82)
Three years ago, an engineer opened a savings account with an initial deposit of P200 000.00. He withdrew P50 000.00 three months later, and another P50 000.00 six months after the first withdrawal. Last year, he deposited P100 000.00 and withdrew P150 000.00 six months later. Find the account balance today if interest is 10% compounded quarterly. (Ans. P93 717.82)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Transcribed Image Text:Three years ago, an engineer opened a savings account with an initial deposit of
P200 000.00. He withdrew P50 000.00 three months later, and another P50 000.00
six months after the first withdrawal. Last year, he deposited P100 000.00 and
withdrew P150 000.00 six months later. Find the account balance today if interest is
10% compounded quarterly.
(Ans. P93 717.82)
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