II. Solve the following problems. 1. Cris borrows P40,000 and promises to pay the principal and interest at 14% compounded annually. How much must he repay after 8 years? Given: Unknown: Formula: Given: Unknown: Formula: Solution: 2. If you deposit P4000 into an account paying 8% annual interest compounded monthly, how long until there is P9000 in the account? Answer: Given: Unknown: Formula: Solution: Answer: 3. How much money would you need to deposit today at 7% annual interest compounded quarterly to have P16000 in the account after 4 years? Solution: Answer:

II. Solve the following problems. 1. Cris borrows P40,000 and promises to pay the principal and interest at 14% compounded annually. How much must he repay after 8 years? Given: Unknown: Formula: Given: Unknown: Formula: Solution: 2. If you deposit P4000 into an account paying 8% annual interest compounded monthly, how long until there is P9000 in the account? Answer: Given: Unknown: Formula: Solution: Answer: 3. How much money would you need to deposit today at 7% annual interest compounded quarterly to have P16000 in the account after 4 years? Solution: Answer:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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