7.) John borrowed P4500 cash from his friend. His friend's condition is that he must pay his debt in 2 years with an interest of 3% one time payment only. However, john plans to set aside an amount of money in his piggy bank every 3months with an interest of 4% compounded quarterly until he can accumulate the total debt and pay it one time to his friend. must John set aside every 3months? ANSWER: much money How 559.3995 A =

7.) John borrowed P4500 cash from his friend. His friend's condition is that he must pay his debt in 2 years with an interest of 3% one time payment only. However, john plans to set aside an amount of money in his piggy bank every 3months with an interest of 4% compounded quarterly until he can accumulate the total debt and pay it one time to his friend. must John set aside every 3months? ANSWER: much money How 559.3995 A =

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section: Chapter Questions

Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...

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Similar questions

Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly. How much money will he have saved after 5 years?

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