Solution: What is the accumulated amount of five-year annuity paying P6,000?

What is the accumulated amount of five-year annuity paying P6,000 at the end of each year, with interest at 15% compounded annually?

What is the accumulated amount of five-year annuity paying P6,000?

Problem Statement: ECE Board November 1998

What is the accumulated amount of five-year annuity paying P6,000 at the end of each year, with interest at 15% compounded annually?

  • A. P40,519.21
  • B. P40,681.29
  • C. P40,454.29
  • D. P40,329.10

Problem Answer:

The accumulated amount of five-year annuity paying P6,000 at the end of each year is P40,454.29.

Solution:

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