A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The fund will grant P50,000 for each year for the first 5 years at 8% compounded monthly, P80,000 for each year for the next 5 years at 8% compounded quarterly, and P100,000 each year thereafter at 8% compounded semi-annually interest,. The scholarship will start one year after the fund is established. What is the amount of the donation?

A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The fund will grant P50,000 for each year for the first 5 years at 8% compounded monthly, P80,000 for each year for the next 5 years at 8% compounded quarterly, and P100,000 each year thereafter at 8% compounded semi-annually interest,. The scholarship will start one year after the fund is established. What is the amount of the donation?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 22E

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A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The fund will grant P50,000 for each year for the first 5 years at 8% compounded monthly, P80,000 for each year for the next 5 years at 8% compounded quarterly, and P100,000 each year thereafter at 8% compounded semi-annually interest,. The scholarship will start one year after the fund is established. What is the amount of the donation?

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A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The fund will grant Php5,000 for each of the first 5 years, Php8,000 for each of the next 5 years and Php10,000 each year thereafter. The scholarship will start one year after the fund is established. If the fund earns 8% interest, what is the amount of the donation?
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