A MANUFACTURING FIRM WISHES TO GIVE EACH 80 EMPLOYEES A HOLIDAY BONUS. HOW MUCH IS NEEDED TO INVEST MONTHLY FOR A YEAR AT  12% NOMINAL INTEREST RATE, COMPOUNDED MONTHLY, SO THAT EACH EMPLOYEE WILL RECEIVE A P2,000.00 BONUS? a.P12,600.90 b.P12,615.80 c.P12,300.80 d.P12,608.70

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...
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A MANUFACTURING FIRM WISHES TO GIVE EACH 80 EMPLOYEES A HOLIDAY BONUS. HOW MUCH IS NEEDED TO INVEST MONTHLY FOR A YEAR AT  12% NOMINAL INTEREST RATE, COMPOUNDED MONTHLY, SO THAT EACH EMPLOYEE WILL RECEIVE A P2,000.00 BONUS?

a.P12,600.90
b.P12,615.80
c.P12,300.80
d.P12,608.70
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