Question
DAD Company established a sinking fund in order to accumulate Php150,000 by depositing equal amounts of money at the end of every 3 months for
DAD Company established a sinking fund in order to accumulate Php150,000 by depositing equal amounts of money at the end of every 3 months for 2 years. If the fund was earning interest at 10% compounded quarterly, how much is the book value on the 3rd payment?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
