Suppose an amount of Php 18000 is invested in an account with an annual rate of 4.5% continuously compounded. However, an amount of Php 5000 is withdrawn from the account after 4 years. Determine the amount in the account after 6 years. Determine also the rate of increase in the amount in the account at the 6th years.

Suppose an amount of Php 18000 is invested in an account with an annual rate of 4.5% continuously compounded. However, an amount of Php 5000 is withdrawn from the account after 4 years. Determine the amount in the account after 6 years. Determine also the rate of increase in the amount in the account at the 6th years.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 18E

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