You have an older borther who plans to marry his long time gf after 6 years. The couple estimated that they need P 1 000 000 for their wedding 6 yearsrs from now. They plan to save the same amount of money each year starting the end of this year in order to cover the wedding expenses. If they can invest their money in an instrument thay yields 5% annually how much do they need to save every year?
You have an older borther who plans to marry his long time gf after 6 years. The couple estimated that they need P 1 000 000 for their wedding 6 yearsrs from now. They plan to save the same amount of money each year starting the end of this year in order to cover the wedding expenses. If they can invest their money in an instrument thay yields 5% annually how much do they need to save every year?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
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You have an older borther who plans to marry his long time gf after 6 years. The couple estimated that they need P 1 000 000 for their wedding 6 yearsrs from now. They plan to save the same amount of money each year starting the end of this year in order to cover the wedding expenses. If they can invest their money in an instrument thay yields 5% annually how much do they need to save every year?
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