As a parent, you want to secure the future of your only child who is now 5 years old. How much do you need to invest now to ensure that your child will be receiving an equal annual amount of PhP 50,000 from age 18 until his lifetime? Consider an interest rate of 12% compounded annually.
As a parent, you want to secure the future of your only child who is now 5 years old. How much do you need to invest now to ensure that your child will be receiving an equal annual amount of PhP 50,000 from age 18 until his lifetime? Consider an interest rate of 12% compounded annually.
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
Problem 1PS
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As a parent, you want to secure the future of your only child who is now 5 years old. How much do you need to
invest now to ensure that your child will be receiving an equal annual amount of PhP 50,000 from age 18 until his
lifetime? Consider an interest rate of 12% compounded annually.
complete soln witth graph.
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