Answered: To provide for a purchase of a car…

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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NOTE: STRICTLY USE THE GIVEN FORMULA IN THE PHOTO ATTACHED. DONT USE EXCEL IN SOLVING. 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. 7. Four friends deposited P15,000 each in a trust fund that gives 16% interest quarterly. Find the total money in 8 years. 8. Mrs. Dimayuga deposits P12,000 in a savings account on March 30, 2006. Six months later, she deposited P6,000. If the bank credits at 12% compounded quarterly and no withdrawal has been made, how much is her money on December 30, 2012? 9. Mrs. Delos santos has P75,000. 1/3 of it was invested at 18% compounded semi-annually. 1/4 of the remaining amount was invested at 12% compounded quarterly, and the remaining amount was invested at 12% compounded monthly. Find her total investment in 6 years. 10. Find the compound amount and interest of P29,700 invested for 6 years and 9 months at 18% compounded monthly.

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

Please use this following Formula b
FV = PV XTI
FV = pv (1+i)"
PV = FV
(1+1)"
n
PV = FVXT₂
No.
DATE

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