Q2. Deposits are to be made to an account as indicated in the table below which bears interest at the rate of 10% compounded annually. How much will there be in the account at the end of the sixth year? END OF YEAR DEPOSIT 1 2 500 3 1000 4 1500 2000

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Q2. Deposits are to be made to an account as indicated in the table below which bears interest at the
rate of 10% compounded annually. How much will there be in the account at the end of the sixth year?
END OF YEAR
DEPOSIT
500
3
1000
4
1500
5
2000
Answer: F6 = 6,078.05Php
Transcribed Image Text:Q2. Deposits are to be made to an account as indicated in the table below which bears interest at the rate of 10% compounded annually. How much will there be in the account at the end of the sixth year? END OF YEAR DEPOSIT 500 3 1000 4 1500 5 2000 Answer: F6 = 6,078.05Php
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