3. In order to save for her high school graduation, Maria decided to save P200 at the end of every other month, starting the end of the second month. If the bank pays 0.250% compounded monthly, how much will be her money at the end of 5 years, (round-off the value of "j" in 6 decimal places)

3. In order to save for her high school graduation, Maria decided to save P200 at the end of every other month, starting the end of the second month. If the bank pays 0.250% compounded monthly, how much will be her money at the end of 5 years, (round-off the value of "j" in 6 decimal places)

Name: 3. In order to save for her high schoolgraduation, Maria decided to s
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Description: 3. In order to save for her high schoolgraduation, Maria decided to saveP200 at the end of every othermonth, starting the end of the secondmonth. If the bank pays 0.250%compounded monthly, how much willbe her money at the end of 5 years,(round-off t

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
6. Erika opened a savings account today and she immediately put $10,000 into it. She plans to contribute another $20,000 one year from now, and $50,000 two years from now. The savings account pays a 6 percent annual interest rate. If she makes no other deposits or withdrawals, how much will she have in the account 10 years from today? a.$ 8,246.00 b.$116,937.04 c$131,390.46 d.$164,592.62 e.$190,297.04 2/4
5) A teacher saves ₽5,000 every 6 months in a bank that pays 0.25%compounded monthly. How much will be her savings after 10 years? A. ₽101,197.06 C. ₽103,197.06 B. ₽102,197.06 D. ₽104,197.06
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