Cheska invests P 60000 into an index annuity that has an average of 8.4% compounded semi-annually. At this rate, how many years for her account to reach P 1500000?
Cheska invests P 60000 into an index annuity that has an average of 8.4% compounded semi-annually. At this rate, how many years for her account to reach P 1500000?
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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10. Cheska invests P 60000 into an index annuity that has an average of 8.4% compounded semi-annually. At this rate, how many years for her account to reach P 1500000?
11. Richard has P 7000 invested in a bank, it is compounded bimonthly at 12% on average per annum, find the compounded interest at the end of 8 years.
12. If the proceeds of P 2000 will be paid with P 2400 at the end of 10 months, find the discount rate.
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