A person wants to accumulate RM 20,000 for his marriage fund at the end of 8 years. If he deposits RM1500 in the fund at the end of each of the first 4 years, and X amount in the fund at the end of each of the second 4 years, find X amount, if the fund is earning 7% effective. (answer to nearest ringgit).

A person wants to accumulate RM 20,000 for his marriage fund at the end of 8 years. If he deposits RM1500 in the fund at the end of each of the first 4 years, and X amount in the fund at the end of each of the second 4 years, find X amount, if the fund is earning 7% effective. (answer to nearest ringgit).

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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