2. A father plans to invest P350,000 on his son's birth for his son's education 7 years later. If he wishes to have P1,500,000 by that time, at what rate converted quarterly should he invest his money?

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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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II. Formula: Finding Rate/Finding Time=m
[@]
2. A father plans to invest P350,000 on his son's birth for his son's education 7 years later. If he
P1,500,000 by that time, at what rate converted quarterly should he
wishes to have
invest his money?
100
F
log
P
mlog(1+i)
Transcribed Image Text:II. Formula: Finding Rate/Finding Time=m [@] 2. A father plans to invest P350,000 on his son's birth for his son's education 7 years later. If he P1,500,000 by that time, at what rate converted quarterly should he wishes to have invest his money? 100 F log P mlog(1+i)
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