raw the cash-flow diagram if neccesary 4) A P3 million donation was given by a rich man to a foundation that cares for elderly people without shelters. This donation was then invested to a fund that earns an interest rate of 12% effective. The amount in the fund will provides an equal-beginning of a monthly medical expenses of P 37, 500 at the start of investment for the elderly as long as the amount is available. a) How long will it lasts? b) What available amount would be in the fund after the last monthly expense? Is show the solution. Thanks
raw the cash-flow diagram if neccesary 4) A P3 million donation was given by a rich man to a foundation that cares for elderly people without shelters. This donation was then invested to a fund that earns an interest rate of 12% effective. The amount in the fund will provides an equal-beginning of a monthly medical expenses of P 37, 500 at the start of investment for the elderly as long as the amount is available. a) How long will it lasts? b) What available amount would be in the fund after the last monthly expense? Is show the solution. Thanks
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 17P: Comprehensive The following are three independent situations: 1. K. Herrmann has decided to set up a...
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