Solution: What is the amount that will be available in two years?

Mr. Cruz plans to deposit for the education of his 5 years old son, P500 at the end of each month for 10 years at 12% annual interest compounded monthly. The amount that will be available in two years is:

What is the amount that will be available in two years?

Problem Statement: EE Board April 1997

Mr. Cruz plans to deposit for the education of his 5 years old son, P500 at the end of each month for 10 years at 12% annual interest compounded monthly. The amount that will be available in two years is:

  • A. P13,100.60
  • B. P13,589.50
  • C. P13,982.80
  • D. P13,486.70

Problem Answer:

The amount that will be available in two years is P13,486.70.

Solution:

Latest Problem Solving in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

More Questions in: Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

Online Questions and Answers in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)


Search! Type it and Hit Enter


We educate thousands of students a week in preparation for their licensure examinations. We provide professionals with materials for their lectures and practice exams. To help us go forward with the same spirit, contribution from your side will highly appreciated. Thank you in advance.


Post a Comment

Contact Form

Name

Email *

Message *

Powered by Blogger.
Javascript DisablePlease Enable Javascript To See All Widget
Real Time Web Analytics