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As an engineer, you plan to put aside 20% of your yearly income. You expect to make Php1 million in the first year, and then you expect your income to increase by 10,000 each year for the next 6 years. At the interest rate 10% per year, what is the accumulated amount after 6 years? A Php 967,893 B Php 524,456 Php 807,723 Php 1,714,683

As an engineer, you plan to put aside 20% of your yearly income. You expect to make Php1 million in the first year, and then you expect your income to increase by 10,000 each year for the next 6 years. At the interest rate 10% per year, what is the accumulated amount after 6 years? A Php 967,893 B Php 524,456 Php 807,723 Php 1,714,683

Essentials Of Investments
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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As an engineer, you plan to put aside 20% of your yearly income. You expect to make Php1 million in the first year, and then you expect your income to increase by 10,000 each year for the next 6 years. At the interest rate 10% per year, what is the accumulated amount after 6 years? A Php 967,893 (B Php 524,456 c) Php 807,723 D Php 1,714,683
Transcribed Image Text:As an engineer, you plan to put aside 20% of your yearly income. You expect to make Php1 million in the first year, and then you expect your income to increase by 10,000 each year for the next 6 years. At the interest rate 10% per year, what is the accumulated amount after 6 years? A Php 967,893 (B Php 524,456 c) Php 807,723 D Php 1,714,683
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