0,000 now for the college education of his 2 year old son. If the fund earns 14% effective, how much will the son get each year starting from his 18th to the 22nd birthday?
0,000 now for the college education of his 2 year old son. If the fund earns 14% effective, how much will the son get each year starting from his 18th to the 22nd birthday?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 22E
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2. a man invests P 10,000 now for the college education of his 2 year old son. If the fund earns 14% effective, how much will the son get each year starting from his 18th to the 22nd birthday?
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