A deposit of 120 000.00 Php is placed into a college fund at the beginning of every month for 10 years . The fund earns 9 % annual interest , compounded monthly , and paid at the end of the month . How much is in the account right after the last deposit ? a . The type of annuity illustrated in the problem is _____________________. b . The term is __________________. c . The number of conversion period is_____________________________. d . The interest rate per period is___________. e . The present value of the deposit is___________.
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A deposit of 120 000.00 Php is placed into a college fund at the beginning of every month for 10 years . The fund earns 9 % annual interest , compounded monthly , and paid at the end of the month . How much is in the account right after the last deposit ?
a . The type of
b . The term is __________________.
c . The number of conversion period is_____________________________.
d . The interest rate per period is___________.
e . The present value of the deposit is___________.
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Answers: a. Simple Annuity; b. 10; c. 12; d. 0.075; e. 30 000.00 Php
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