(4) An investment of P 100,000 is to be used to make payments of P 4,000 at the end of each quarter for as long as possible. If the rate of interest is 5% convertible quarterly, find: (a) the number of regular payments the fund will make, and number of days from the last payment to the exact date using exact time, assuming leap year on the last payment (b) the size of the smaller final payment if the payment will be made in addition to the last regular payment,

(4) An investment of P 100,000 is to be used to make payments of P 4,000 at the end of each quarter for as long as possible. If the rate of interest is 5% convertible quarterly, find: (a) the number of regular payments the fund will make, and number of days from the last payment to the exact date using exact time, assuming leap year on the last payment (b) the size of the smaller final payment if the payment will be made in addition to the last regular payment,

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 2E

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