Bob has saved a total of P2,550,000.00 for retirement. He put the money in a mutual fund which pays 9% interest compounded monthly. How much should he withdraw each month in order to have enough money to last for 15 years? * P25,863.80 O P6,738.80 O P6,688.63 P25,671.26
Bob has saved a total of P2,550,000.00 for retirement. He put the money in a mutual fund which pays 9% interest compounded monthly. How much should he withdraw each month in order to have enough money to last for 15 years? * P25,863.80 O P6,738.80 O P6,688.63 P25,671.26
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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