Answered: A fund is to be created by investing…

A fund is to be created by investing P10,000 at the end of every month for 10 years. If money is worth 8% compounded monthly, how much is in the fund at the end of 10 years?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...

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Question

PLEASE TYPE IT AND NOT HANDWRITTEN

A fund is to be created by investing P10,000 at the end of every month for 10 years. If money is worth 8% compounded monthly, how much is in the fund at the end of 10 years?

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