Your parents wanted to establish a travel fund that will provide them an annual travel 1. allowance of P250 000 for 10 years when they retire. How much should they invest t a trust fund that earns 4% interest compounded monthly if they are to retire in 5 years?
Your parents wanted to establish a travel fund that will provide them an annual travel 1. allowance of P250 000 for 10 years when they retire. How much should they invest t a trust fund that earns 4% interest compounded monthly if they are to retire in 5 years?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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