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  • How Much Will Be Left in The Account at The End of The 21st Year

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    A father invested PHP 5,000 in a 7% account for his child's education when the child was born. The child withdrew PHP 4,000 at the end of their 17th, 18th, 19th and 20th birthdays for college expenses. The question asks how much will be left in the account at the end of the 21st year. The document provides the solution which is PHP 1,699.86. It also categorizes this problem under the topic of engineering economics and annuities. Additional related questions and answers can be found on the website.

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    Economics engineering

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

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    A father invested PHP 5,000 in a 7% account for his child's education when the child was born. The child withdrew PHP 4,000 at the end of their 17th, 18th, 19th and 20th birthdays for college expenses. The question asks how much will be left in the account at the end of the 21st year. The document provides the solution which is PHP 1,699.86. It also categorizes this problem under the topic of engineering economics and annuities. Additional related questions and answers can be found on the website.

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    © All Rights Reserved
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    46 views3 pages

    How Much Will Be Left in The Account at The End of The 21st Year

    Uploaded by

    anon gg
    A father invested PHP 5,000 in a 7% account for his child's education when the child was born. The child withdrew PHP 4,000 at the end of their 17th, 18th, 19th and 20th birthdays for college expenses. The question asks how much will be left in the account at the end of the 21st year. The document provides the solution which is PHP 1,699.86. It also categorizes this problem under the topic of engineering economics and annuities. Additional related questions and answers can be found on the website.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 3

    Solution: How much will be left in the account at the end of

    the 21st year?


    pinoybix.org/2017/04/how-much-will-be-left-in-the-account-at-end-of-21st-year.html

    April 25,
    2017

    (Last Updated On: January 9, 2020)

    1/3
    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:

    Show

    Latest Problem Solving in Engineering Economics (Annuity,


    Depreciation, Bonds, Breakeven, etc.)

    2/3
    More Questions in: Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)

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