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1. Joshua wants to have Php 250,000 at the bank after4 years in time for his graduation. He plans to deposit a certain amount of money at the end of every month to achieve his goal. If a cooperative bank pays a 12% interest compounded monthly, what should be the of Joshua's monthly deposit?

1. Joshua wants to have Php 250,000 at the bank after4 years in time for his graduation. He plans to deposit a certain amount of money at the end of every month to achieve his goal. If a cooperative bank pays a 12% interest compounded monthly, what should be the of Joshua's monthly deposit?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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1. Joshua wants to have Php 250,000 at the bank after4 years in time for his graduation. He plans to deposit a certain amount of money at the end of every month to achieve his goal. If a cooperative bank pays a 12% interest compounded monthly, what should be the of Joshua's monthly deposit? 2. Find the amount and present value of Php 2,500 payable for 3 years if the money is worth 6% compounded quarterly. %3D 3. Mr. Arroyo purchased a brand new car. If he paid Php 750,000 as down payment and paid the balance at Php 10,000 monthly, find the cash value of the car.
Transcribed Image Text:1. Joshua wants to have Php 250,000 at the bank after4 years in time for his graduation. He plans to deposit a certain amount of money at the end of every month to achieve his goal. If a cooperative bank pays a 12% interest compounded monthly, what should be the of Joshua's monthly deposit? 2. Find the amount and present value of Php 2,500 payable for 3 years if the money is worth 6% compounded quarterly. %3D 3. Mr. Arroyo purchased a brand new car. If he paid Php 750,000 as down payment and paid the balance at Php 10,000 monthly, find the cash value of the car.
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