An engineer who believed in “save now and play later” wanted to retire in 20 years with Php 15 million. At 12% per year interest, to reach the Php 15 million goal, starting 1 year from now, the engineer must annually invest closest to; a.) Php 233 069.8 b.) Php 208 181.7 c.) Php 178 655.2 d.) Php 255 602.8

An engineer who believed in “save now and play later” wanted to retire in 20 years with Php 15 million. At 12% per year interest, to reach the Php 15 million goal, starting 1 year from now, the engineer must annually invest closest to; a.) Php 233 069.8 b.) Php 208 181.7 c.) Php 178 655.2 d.) Php 255 602.8

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 22P

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