Question: Problem: Mr . Nia is planning to create a fund by depositing P 4 , 5 2 0 every quarter for 8 years in BPI

Problem: Mr. Nia is planning to create a fund by depositing P4,520 every quarter for 8 years in BPI bank that promises to pay a fixed rate over the entire term. If the amount at the end of the term is P160,000, find the rate converted quarterly.
Given:
S =160,000
t =8 years
n =4
R =4,520
r =?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

L.A. Corporation is planning to create a fund by depositing P1,520 every quarter for 8 years in a bank that promises to pay a fixed rate over the entire term. Find the rate converted quarterly if the...

Q:

GREAT ENDEAVOR SPORTING GOODS is a family owned business. The owner, Mr. Sam Cage, is seventy years old and wishes to retire at the end of the year, December 31, 2004. Sam, his wife Mary, and their...

Q:

GREAT ENDEAVOR SPORTING GOODS Great Endeavor Sporting Goods (Revised Sept. 20, 2010) Garland Simmons GREAT ENDEAVOR SPORTING GOODS is a family owned business. The owner, Mr. Sam Cage, is seventy...

Q:

GREAT ENDEAVOR SPORTING GOODS is a family owned business. The owner, Mr. Sam Cage, is seventy years old and wishes to retire at the end of the year, December 31, 2004. Sam, his wife Mary, and their...

Q:

need a cash balance GREAT ENDEAVOR SPORTING GOODS Great Endeavor Sporting Goods (Revised Sept. 20, 2010) Garland Simmons GREAT ENDEA VOR SPORTING GOODS is a family owned business. The owner, Mr. Sam...

Q:

I have attached both the chapters from which you will be answering the following question. Ch 8 (p 387 of text or p 35 of the pdf) ?Exercise D. Prepare the bank reconciliation and any required...

Q:

During the course you will be required to develop a Course Project having to do with writing notes for the financial statements of a fictitious Company. Create Income Statement, Retained Earnings...

Q:

During the course you will be required to develop a Course Project having to do with writing notes for the financial statements of a fictitious Company. Create Income Statement, Retained Earnings...

Q:

During the course you will be required to develop a Course Project having to do with writing notes for the financial statements of a fictitious Company. Create Income Statement, Retained Earnings...

Q:

Academy ol Management Executive, 2001. Vol. 15, No. 4 Are you sure you have a strategy? Donald C. Hambrick and James W. Fredrickson Executive Overview After more than 30 years of hard thinking about...

Q:

Congratulation ! Imagine you just graduate from UTHM. Unfortunatelty, due to Covid 19 pandemic, you are struggling to seek a job. The good news is, Malaysia government aware of this unemployment...

Q:

White the cell reaction and cell representation of Cu-Ag cell at 298 K. Cal- culate the EMF of the cell when [Cu+] = 0.01m and [Agt] = bilm F 0-34 V and Eng 0.80 V Em. =

Q:

There was a fire in godown of Spark Ltd. on 1.7.2017. Stock worth ~ 30,000 was saved. The goods were insured and fully covered. (i) An average gross profit of 20% on sales is maintained by the...

Q:

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

Q:

Why is a department managers timely follow-up so important in the performance improvement process?

Q:

Why do experts strongly recommend that regardless of the apparent severity of an infraction, no employee should be summarily discharged but rather be placed on indefinite suspension pending an...

Q:

Comment on the claim that like it or not, people problems are the legitimate terrain of a first-line manager. Why is this often true?