Benjiena would like to purchase a house and lot amounting to P10,000,000 in the span of five years. She wants to invest regularly at the beginning of the year at a rate of 10% compounded annually. How much should she invest regularly to obtain that amount in five years?
Benjiena would like to purchase a house and lot amounting to P10,000,000 in the span of five years. She wants to invest regularly at the beginning of the year at a rate of 10% compounded annually. How much should she invest regularly to obtain that amount in five years?
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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Benjiena would like to purchase a house and lot amounting to P10,000,000 in the span of five years. She wants to invest regularly at the beginning of the year at a rate of 10% compounded annually. How much should she invest regularly to obtain that amount in five years?
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