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A bank earns 3% interest  p e r     a n n u m     c  o m p o u n d e d    m o n t h l y       f o r    a n   i n i t i a l   s a v i n g s   d  e p o s i t     of ₱ 100,000.00.  F i n d    t h  e   n e t    v a l u e   o f   t h e     deposit after 3 quarters if the  e a r n i n g       is subjected to a 21% tax

A bank earns 3% interest  p e r     a n n u m     c  o m p o u n d e d    m o n t h l y       f o r    a n   i n i t i a l   s a v i n g s   d  e p o s i t     of ₱ 100,000.00.  F i n d    t h  e   n e t    v a l u e   o f   t h e     deposit after 3 quarters if the  e a r n i n g       is subjected to a 21% tax

Essentials Of Investments
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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A bank earns 3% interest  p e r     a n n u m     c  o m p o u n d e d    m o n t h l y       f o r    a n   i n i t i a l   s a v i n g s   d  e p o s i t     of ₱ 100,000.00.


 F i n d    t h  e   n e t    v a l u e   o f   t h e     deposit after 3 quarters if the  e a r n i n g       is subjected to a 21% tax

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