AC entered into an investment fund four years ago. The investment fund has an interest rate of 3% compounded quarterly. AC deposited Php 50,000 but she withdrew Php 20,000 two years after. The investment fund agency informed her today that she can still get her originally deposited amount five years from now as long as she will deposit a certain amount into the fund today. Determine the amount that she needs to deposit if the new rate of interest in the next 5 years is 4.5 compounded semiannually
AC entered into an investment fund four years ago. The investment fund has an interest rate of 3% compounded quarterly. AC deposited Php 50,000 but she withdrew Php 20,000 two years after. The investment fund agency informed her today that she can still get her originally deposited amount five years from now as long as she will deposit a certain amount into the fund today. Determine the amount that she needs to deposit if the new rate of interest in the next 5 years is 4.5 compounded semiannually
Chapter17: Retirement And Estate Planning
Section: Chapter Questions
Problem 5DTM
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AC entered into an investment fund four years ago. The investment fund has an interest rate of 3% compounded quarterly. AC deposited Php 50,000 but she withdrew Php 20,000 two years after. The investment fund agency informed her today that she can still get her originally deposited amount five years from now as long as she will deposit a certain amount into the fund today. Determine the amount that she needs to deposit if the new rate of interest in the next 5 years is 4.5 compounded semiannually
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