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3. What amount must be invested now in savings account earnings 996 compounded quarterly to accumulate a total of P21,000 after 4% years?

3. What amount must be invested now in savings account earnings 996 compounded quarterly to accumulate a total of P21,000 after 4% years?

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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3. What amount must be invested now in savings account earnings 96 compounded quarterly to accumulate a total of P21,000 after 4 % years? 4. Millet vtants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time her daughter is 20. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be? 5. Ms. Cruz can buy a piece of property for P6,500,000 cash or P4,000,000 down payment and P4,200,000 in five (5) years. If she has money eaning 8% converted quarterty, which is a better purchased plan and by how much?
Transcribed Image Text:3. What amount must be invested now in savings account earnings 96 compounded quarterly to accumulate a total of P21,000 after 4 % years? 4. Millet vtants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time her daughter is 20. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be? 5. Ms. Cruz can buy a piece of property for P6,500,000 cash or P4,000,000 down payment and P4,200,000 in five (5) years. If she has money eaning 8% converted quarterty, which is a better purchased plan and by how much?
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