2. Three professional siblings decided to save money so they can buy a house and lot for their parents after 5 years. The plan is for each to make semi-annual deposits of P20,000 in their respective bank accounts starting at the end of the first semester after the agreement up to the 5th year. All deposits are to be made at the end of the periods. One of them is not capable of starting at the same time with everyone because of a present obligation but promised to start the deposits by the end of the first semester after the second year up to the 5th year. How much should she deposit in equal amounts to save as much as each of her siblings if money is worth 13% compounded semi-annually?
2. Three professional siblings decided to save money so they can buy a house and lot for their parents after 5 years. The plan is for each to make semi-annual deposits of P20,000 in their respective bank accounts starting at the end of the first semester after the agreement up to the 5th year. All deposits are to be made at the end of the periods. One of them is not capable of starting at the same time with everyone because of a present obligation but promised to start the deposits by the end of the first semester after the second year up to the 5th year. How much should she deposit in equal amounts to save as much as each of her siblings if money is worth 13% compounded semi-annually?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:2. Three professional siblings decided to save money so they can buy a house and lot for
their parents after 5 years. The plan is for each to make semi-annual deposits of P20,000
in their respective bank accounts starting at the end of the first semester after the
agreement up to the 5th year. All deposits are to be made at the end of the periods. One
of them is not capable of starting at the same time with everyone because of a present
obligation but promised to start the deposits by the end of the first semester after the
second year up to the 5th year. How much should she deposit in equal amounts to save
as much as each of her siblings if money is worth 13% compounded semi-annually?
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