Parents wish to have P120,000 available for their child's education. If the child is now 1 year old, how much money must be set aside at 8% compounded monthly to meet their financial goal when the child is 18?
Parents wish to have P120,000 available for their child's education. If the child is now 1 year old, how much money must be set aside at 8% compounded monthly to meet their financial goal when the child is 18?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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5. Parents wish to have P120,000 available for their child's education. If the child is now 1 year old, how much money must be set aside at 8% compounded monthly to meet their financial goal when the child is 18?
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