An investor have a projected surplus income of P100,000.00 per year which he plans to place in a bank which offers an interest of 18% per annum for time deposit of over 5 years. Compute how much shall the investor collect at the end of 13 years assuming that he never withdraw before the 13 th year.
An investor have a projected surplus income of P100,000.00 per year which he plans to place in a bank which offers an interest of 18% per annum for time deposit of over 5 years. Compute how much shall the investor collect at the end of 13 years assuming that he never withdraw before the 13 th year.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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An investor have a projected surplus income of P100,000.00 per year which he plans to place in a bank which offers an interest of 18% per annum for time deposit of over 5 years. Compute how much shall the investor collect at the end of 13 years assuming that he never withdraw before the 13 th year.
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