Suppose you will save P 3,000 at the end of every three months in a bank that pays 3% compounded quarterly. How much is the amount or the future value of your savings after 18 months? A. P 18.430.98 B. P 18.340.89 C.P 18.034.89 R.P 18.000

Suppose you will save P 3,000 at the end of every three months in a bank that pays 3% compounded quarterly. How much is the amount or the future value of your savings after 18 months? A. P 18.430.98 B. P 18.340.89 C.P 18.034.89 R.P 18.000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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Question

13. Suppose you will save P 3,000 at the end of every three months in a bank that
pays 3% compounded quarterly. How much is the amount or the future value
of your savings after 18 months?
A. P 18,430.98
B. P 18,340.89
C. P 18,034.89
D. P 18,000

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