“Compounding of interest is one of humanity's finest inventions,” Albert Einstein famously said. To demonstrate the mind-boggling consequences of compounding, how much should you invest weekly for 30 years in a fund that yields 8% compounded quarterly in terms of accumulating P5,000,000 by the time you retire?

“Compounding of interest is one of humanity's finest inventions,” Albert Einstein famously said. To demonstrate the mind-boggling consequences of compounding, how much should you invest weekly for 30 years in a fund that yields 8% compounded quarterly in terms of accumulating P5,000,000 by the time you retire?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 11EA: How much would you invest today in order to receive $30,000 in each of the following (for further...

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