A couple plans to start a business of their own in 6 years. They plan to have Php100,000 cash available at the time for this purpose. To raise the Php100,000, a fund has been started that earns interest at 8% compounded quarterly. What would the quarterly payments into this fund?

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
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A couple plans to start a business of their own in 6 years. They plan to have Php100,000
cash available at the time for this purpose. To raise the Php100,000, a fund has been started
that earns interest at 8% compounded quarterly. What would the quarterly payments into
this fund?
Response
Transcribed Image Text:A couple plans to start a business of their own in 6 years. They plan to have Php100,000 cash available at the time for this purpose. To raise the Php100,000, a fund has been started that earns interest at 8% compounded quarterly. What would the quarterly payments into this fund? Response
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