Ten years ago, you deposited P5400 per month. You made the deposit for 6 years and then stopped 4 years later, you established a belts and nuts factory, and start withdrawing P2.300 every month for advertisement. Money is worth 6% compounded monthly. How many months can you withdraw before the money is exhausted? What is the present worth of the withdrawal?(please give the real real not the copied one)
Ten years ago, you deposited P5400 per month. You made the deposit for 6 years and then stopped 4 years later, you established a belts and nuts factory, and start withdrawing P2.300 every month for advertisement. Money is worth 6% compounded monthly. How many months can you withdraw before the money is exhausted? What is the present worth of the withdrawal?(please give the real real not the copied one)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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Ten years ago, you deposited P5400 per month. You made the deposit for 6 years and then stopped 4 years later, you
established a belts and nuts factory, and start withdrawing P2.300 every month for advertisement. Money is worth 6%
compounded monthly. How many months can you withdraw before the money is exhausted? What is the present worth of the withdrawal?(please give the real real not the copied one)
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