32. A student plan to deposit P1,500 in the bank now and another P3,000 for the next 2 years. If he plans to withdraw P5,000 3 years after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10%.
32. A student plan to deposit P1,500 in the bank now and another P3,000 for the next 2 years. If he plans to withdraw P5,000 3 years after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10%.
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
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