Solution: How much will be left in the account at the end of the 21st year?

(Last Updated On: December 8, 2017)

How much will be left in the account at the end of the 21st year?

Problem Statement: ECE Board April 1998

You need P4,000 per year for four years to go to college. Your father invested P5,000 in 7% account for your education when you were born. If you withdraw P4,000 at the end of your 17th, 18th, 19th and 20th birthday, how much will be left in the account at the end of the 21st year?

  • A. P1,666.98
  • B. P1,699.86
  • C. P1,623.89
  • D. P1,645.67

Problem Answer:

The money that will be left at the end of 21st year is P1,699.86.

Solution:

Solution: How much will be left in the account at the end of the 21st year?

Latest Problem Solving in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

div.feedburnerFeedBlock ul li {background: #E2F0FD;
list-style-type: none;
margin:0 0 5px 0px;
padding:5px 5px 5px 10px !important;
border: 1px solid #0080ff;
border-radius:8px;
-moz-border-radius:8px;
-webkit-border-radius:8px;

}

div.feedburnerFeedBlock ul li:hover {
background:#ffffff;
}

div.feedburnerFeedBlock ul li a{
color:#ffffff;
text-decoration:none;
}

div.feedburnerFeedBlock ul li a:hover {
text-decoration: underline;
color: #000000;
}
div #creditfooter{
display: none;
}

More Questions in: Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

Online Questions and Answers in Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

Solution: How much will be left in the account at the end of the 21st year?
Rate this:

Add Comment

© 2014 PinoyBIX Engineering. © 2018 All Rights Reserved | How to Donate?
mcq in computer fundamentals
➡️ MCQ in Computer Fundamentals Series | ECE Board Exam
mcq in industrial electronics
➡️ MCQ in Industrial Electronics Series | ECE Board Exam
MCQ in Power Generators (Cells and Batteries) Part 5 | ECE Board Exam
➡️ MCQ in Power Generators, Sources, Principles, Applications Series | ECE Board Exam
mcq in electrical circuit
➡️ MCQ in Electrical Circuit Series | ECE Board Exam
Online Tool: Color Code Conversions
Online Tool: Color Code Conversions
Online Tool: Weight Measurement Conversions
Online Tool: Weight Measurement Conversions
Online Tool: Temperature Measurement Conversions
Online Tool: Temperature Measurement Conversions
Online Tool: Length Measurement Conversions
Online Tool: Length Measurement Conversions

Get FREE Review Course
in your inbox

Subscribe to our mailing list and get reviewers and updates to your email inbox.

Thank you for subscribing.

Something went wrong.