2. Stefanie inherited money from her grandparents. The conditions of the will state that the sum of P2,500,000 is left to her to be held in a trust fund until it amounts to P4,500,000. When will Stefanie receive the money if the fund is invested at 8% compounded quarterly?

Elements Of Electromagnetics
7th Edition
ISBN:9780190698614
Author:Sadiku, Matthew N. O.
Publisher:Sadiku, Matthew N. O.
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Problem 2.2
2. Stefanie inherited money from her grandparents. The conditions of the will state that
the sum of P2,500,000 is left to her to be held in a trust fund until it amounts to
P4,500,000. When will Stefanie receive the money if the fund is invested at 8%
compounded quarterly?
Transcribed Image Text:2. Stefanie inherited money from her grandparents. The conditions of the will state that the sum of P2,500,000 is left to her to be held in a trust fund until it amounts to P4,500,000. When will Stefanie receive the money if the fund is invested at 8% compounded quarterly?
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