8. Mr. De Castro wishes to have P1,400,000.00 when he retires 15 years from now. If he can expect to receive 4% annual interest, how much must he set aside in each of 15 equal annual beginning of year deposits. Answer. P67,228.40

8. Mr. De Castro wishes to have P1,400,000.00 when he retires 15 years from now. If he can expect to receive 4% annual interest, how much must he set aside in each of 15 equal annual beginning of year deposits. Answer. P67,228.40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Mr. De Castro wishes to have P1,400,000.00 when he retires 15 years from now. If he can expect to receive 4% annual interest, how much must he set aside in each of 15 equal annual beginning of year deposits. Answer. P67,228.40

8. Mr. De Castro wishes to have P1,400,000.00 when he retires 15 years from
now. If he can expect to receive 4% annual interest, how much must he set
aside in each of 15 equal annual beginning of year deposits.
Answer. P67,228.40

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