Answered: A company sets aside P200,000 at the…

A company sets aside P200,000 at the end of each year for plant expansion. If the fund draws 8% compounded annually, how long would it take before P2.5M can be saved?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A company sets aside P200,000 at the end of each year for plant expansion. If the fund draws 8% compounded annually, how long would it take before P2.5M can be saved?

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