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Business

Accounting

What is the total expected amount that the company will have at the end of the 4th year?

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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Question

The company is going to invest ₱26,000, ₱34,000, ₱46,000, and ₱54,000 respectively into a savings account at the end of each year through 4 years. Each of these amounts will compound at 4% per annum until the 4th year. What is the total expected amount that the company will have at the end of the 4th year? (Do not round off between computations. Round off the final answer to two decimal places. Example of writing your answer 64,125.91)

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