On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year compounded annually. He withdraws ₱80 at the end of the first year, ₱90 at the end of the second year, and the remaining balance at the end of the third year. How much better off, in terms of net cash flow, would he have been if he had not made the withdrawals at the ends of years one and two
On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year compounded annually. He withdraws ₱80 at the end of the first year, ₱90 at the end of the second year, and the remaining balance at the end of the third year. How much better off, in terms of net cash flow, would he have been if he had not made the withdrawals at the ends of years one and two
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year
compounded annually. He withdraws ₱80 at the end of the first year, ₱90 at the end of
the second year, and the remaining balance at the end of the third year. How much
better off, in terms of net cash flow, would he have been if he had not made the
withdrawals at the ends of years one and two
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