Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that pays 9.6% interest, compounded every 3 months. a. Find the amount of quarterly deposit. P b. Find the accumulated amount in the account after the 15th deposit. P
Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that pays 9.6% interest, compounded every 3 months. a. Find the amount of quarterly deposit. P b. Find the accumulated amount in the account after the 15th deposit. P
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 19PROB
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![Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that
pays 9.6% interest, compounded every 3 months.
a. Find the amount of quarterly deposit. |
b. Find the accumulated amount in the account after the 15th deposit. P](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe1095da2-e478-4099-a3e5-f6cddabf110e%2Fcd3478de-38ce-4433-a06e-3ea7e21d1487%2Fao640t8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that
pays 9.6% interest, compounded every 3 months.
a. Find the amount of quarterly deposit. |
b. Find the accumulated amount in the account after the 15th deposit. P
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