A dentist wants to determine how much money she needs to put up in a bank now to have enough cash to pay for her yearly out-of- country trips. For the next year, the price of an airplane ticket is Php 13,500 and is assumed to increase by 18%per year each year. She wants to have four out-of-country trips starting next year. How much money she needs to put in an account now if the bank is charging at a rate 9% compounded semi-annually? Answer is Php Blank 1 Blank 1 Add your answer
A dentist wants to determine how much money she needs to put up in a bank now to have enough cash to pay for her yearly out-of- country trips. For the next year, the price of an airplane ticket is Php 13,500 and is assumed to increase by 18%per year each year. She wants to have four out-of-country trips starting next year. How much money she needs to put in an account now if the bank is charging at a rate 9% compounded semi-annually? Answer is Php Blank 1 Blank 1 Add your answer
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
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Transcribed Image Text:A dentist wants to determine how much money she needs to put up in a bank now to have enough cash to pay for her yearly out-of-
country trips. For the next year, the price of an airplane ticket is Php 13,500 and is assumed to increase by 18%per year each year.
She wants to have four out-of-country trips starting next year. How much money she needs to put in an account now if the bank is
charging at a rate 9% compounded semi-annually?
Answer is Php Blank 1
Blank 1
Add your answer
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