Find the accumulated amount of the ordinary annuity paying an amortization of P1,500.00 per month at a rate of 10% compounded monthly for 5 years. A. ₱116,155.61 B. ₱121,157.00 C. ₱110,234.45 D. ₱122,222.22

Find the accumulated amount of the ordinary annuity paying an amortization of P1,500.00 per month at a rate of 10% compounded monthly for 5 years. A. ₱116,155.61 B. ₱121,157.00 C. ₱110,234.45 D. ₱122,222.22

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Find the accumulated amount of the ordinary annuity paying an amortization of P1,500.00 per month at a rate of 10% compounded monthly for 5 years.

A. ₱116,155.61

B. ₱121,157.00

C. ₱110,234.45

D. ₱122,222.22

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