Boiser deposited part of her royalty in a bank at the end of each year for 10 years. The bank paid 2.5% interest compounded annually. If she deposited PhP200,000 every year, how much did she have deposited, including the interest, after her 10th deposit
Boiser deposited part of her royalty in a bank at the end of each year for 10 years. The bank paid 2.5% interest compounded annually. If she deposited PhP200,000 every year, how much did she have deposited, including the interest, after her 10th deposit
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 15E
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Dr. Boiser deposited part of her royalty in a bank at the end of each year for 10 years. The bank paid 2.5% interest compounded annually. If she deposited PhP200,000 every year, how much did she have deposited, including the interest, after her 10th deposit?
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