Densel is planning to make two deposits, PhP 30,000 now and Php 40,000 at the end of year 8. On the tenth year, he plans to make an five annual withdrawals. The first amount is worth “X” and will increase by Php 1000. Now, determine the value of X if his deposits earn 10.5% compounded annually.

Densel is planning to make two deposits, PhP 30,000 now and Php 40,000 at the end of year 8. On the tenth year, he plans to make an five annual withdrawals. The first amount is worth “X” and will increase by Php 1000. Now, determine the value of X if his deposits earn 10.5% compounded annually.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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