Assume your uncle died one year ago and had left you the money in his saving account at that date. His deposit was PKR 550,000 made 16 years ago. This savings account had paid 13% compounded annually. How much money was in the account last year?
Assume your uncle died one year ago and had left you the money in his saving account at that date. His deposit was PKR 550,000 made 16 years ago. This savings account had paid 13% compounded annually. How much money was in the account last year?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 1PROB
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2(a) Assume your uncle died one year ago and had left you the money in his saving account at that date. His deposit was PKR 550,000 made 16 years ago. This savings account had paid 13% compounded annually. How much money was in the account last year?
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