On his 21st birthday, Silver put P300,000 into a retirement fund account that pays 10% interest per year, compounded annually. Now on his 65th birthday he is planning to retire, how much money does he have on his retirement fund?
On his 21st birthday, Silver put P300,000 into a retirement fund account that pays 10% interest per year, compounded annually. Now on his 65th birthday he is planning to retire, how much money does he have on his retirement fund?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 39P
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On his 21st birthday, Silver put P300,000 into a retirement fund account that pays 10% interest per year, compounded annually. Now on his 65th birthday he is planning to retire, how much money does he have on his retirement fund?
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