A trust fund is to be formed by depositing P4,000 every six months for 25 years in a bank that promises to pay a fixed rate over the entire term. If the amount of the fund at the end of the term is P300,000, then the rate compounded semi-annually is Hide answer choices (A) 20.40%. B 10.20%. C 1.57%. D 33.33%. E) 3.14%.

A trust fund is to be formed by depositing P4,000 every six months for 25 years in a bank that promises to pay a fixed rate over the entire term. If the amount of the fund at the end of the term is P300,000, then the rate compounded semi-annually is Hide answer choices (A) 20.40%. B 10.20%. C 1.57%. D 33.33%. E) 3.14%.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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