Solution: When will the girl receive the money if the fund is invested at 8% compounded quarterly?

(Last Updated On: December 8, 2017)

When will the girl receive the money if the fund is invested at 8% compounded quarterly?

Problem Statement: ECE Board April 1998

By the condition of a will, the sum of P20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?

  • A. 7.98 years
  • B. 10.34 years
  • C. 11.57 years
  • D. 10.45 years

Problem Answer:

The girl will receive the money if the fund is invested at 8% compounded quarterly in 11.57 years.

Solution:

Solution: When will the girl receive the money if the fund is invested at 8% compounded quarterly?

Latest Problem Solving in Engineering Economics (Simple & Compound Interest)

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 (Simple & Compound Interest)

Online Questions and Answers in Engineering Economics (Simple & Compound Interest)

Solution: When will the girl receive the money if the fund is invested at 8% compounded quarterly?
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.