A student plans to deposit P1,500 in the bank now and another P3,000 for the next 2 years. If he plans to withdraw P5,000 three years from after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10% ?

Related Mcqs:

Perfect monopoly exists only if_______________?

A. the single vendor can prevent the entry of all other vendors in the market B. the single vendor gets the absolute franchise of the product C. the single vendor is the only one who has the permit to sell D. the single vendor is the only one who has the knowledge of the product...

What is defines as the analysis and evaluation of the monetary consequences by using the theories and principles of economics to engineering applications, designs and projects ?

A. Economic Analysis B. Engineering cost analysis C. Engineering economy D. Design cost analysis...

A P 1, 000, 6% bond pays dividend semiannually and will be redeemed at 110% on June 21, 204. It is bought on June 21, 2001 to yield 4% interest. Find the price of the bond ?

A. P 1,122.70 B. P 1,144.81 C. P 1,133.78 D. P 1,155.06...

In what method of computing depreciation where it assumes that a sinking fund is established in which funds will accumulate for replacement purposes ?

A. Straight line method B. Sinking fund method C. Sum-of-year digit method D. Declining balance method...

What is an accounting term that represents an inventory account adjustment ?

A. Cost of goods sold B. Cost accounting C. Standard cost D. Overhead cost...