A young manager deposits his hardly earned money worth P115,000 in a bank. After 8 years and 6 months, his money increasesto P154,846.1632.a. Compute the amount in the account after 10 years.b.Determine the interest earned by the deposit after 15 years, presuming no withdrawals and no additional deposits.

Given, Principal amount = P115,000 Interest =P154,846.1632- P115,000 = P39,846.1632 Time=8.5…

Answered: young manager deposits his hardly…

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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