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 fund invested at 8% compounded quarterly ?

Related Mcqs:

1. Mr. Jun Ramos was granted a loan of P20,000 by his employer Excel First Review and Training Center, Inc. with an interest of 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds of the note?

   A. P18,000
   B. P18,900
   C. P19,000
   D. P19,100

2. A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money ?

   A. 9.01 %
   B. 9.14 %
   C. 9.31 %
   D. 9.41 %

3. What rate of interest compounded annually is the same as the rate of interest of 8% compounded quarterly ?

   A. 8.07 %
   B. 8.12 %
   C. 8.16 %
   D. 8.24 %

4. A feasibility study shows that a fixed capital investment of P10,000,000 is required for a proposed construction firm and an estimated working capital of P2,000,000. Annual depreciation is estimated to be10% of the fixed capital investment. Determine the rate of return on the total investment if the annual profit is P3,500,000?

   A. 28.33 %
   B. 29.17 %
   C. 30.12 %
   D. 30.78 %

5. The Saudi Arabian Oil Refinery developed an oil well which is estimated to contain 5,000,000 barrels of oil at an initial cost of $ 50,000,000. What is the depletion charge during the year where it produces half million barrels of oil? Use Unit or Factor method in computing depletion?

   A. $ 5,000,000.00
   B. $ 5,010,000.00
   C. $ 5,025,000.00
   D. $ 5,050,000.00

6. A leading shoe manufacturer produces a pair of Lebron James signature shoes at a labor cost of P 900.00 a pair and a material cost of P 800.00 a pair. The fixed charges on the business are P 5,000,000 a month and the variable costs are P 400.00 a pair. Royalty to Lebron James is P 1,000 per pair of shoes sold. If the shoes sell at P 5,000 a pair, how many pairs must be produced each month for the manufacturer to break-even ?

   A. 2.590
   B. 2,632
   C. 2,712
   D. 2,890

7. How long will it take money to double itself if invested at 5% compounded annually ?

   A. 13.7 years
   B. 14.7 years
   C. 14.2 years
   D. 15.3 years

8. A person buys a piece of lot for P 100,000 downpayment and 10 deferred semi-annual payments of P 8,000 each, starting three years from now. What is the present value of the investment if the rate of interest is 12% compounded semi-annually ?

   A. P 142,999.08
   B. P 143,104.89
   C. P 142,189.67
   D. P 143,999.08

9. A factory operator bought a diesel generator set for P 10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment ?

   A. P 2,500.57
   B. P 2,544.45
   C. P 2,540.56
   D. P 2,504.57

10. A sum of P1,000 is invested now and left for eight years, at which time the principal is withdrawn. The interest has accrued is left for another eight years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year ?

    A. P693.12
    B. P700.12
    C. P702.15
    D. P705.42