A father will give P 2144291 to his daughter if she is able to finish her studies in 6 years. What equal annual deposits should the father make at the end of every year if the bank gives 20% cpd. annually?
A father will give P 2144291 to his daughter if she is able to finish her studies in 6 years. What equal annual deposits should the father make at the end of every year if the bank gives 20% cpd. annually?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:A father will give P 2144291 to his daughter if she is able to finish her studies in 6 years.
What equal annual deposits should the father make at the end of every year if the bank
gives 20% cpd. annually?
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