Five friends plan to establish a consulting firm after 5 years. The plan is for each to make semi-annual deposits of P15,000 in their respective bank accounts starting at the end of the first semester after the agreement up to the 5th year. All deposits are to be made every end of the periods. One of them is not capable of starting at the same time with everyone because of a present obligation but promised to start her deposits by the end of the first semester after the second year until the 5th year. How much should she deposit in equal amounts to save as much as each of her friends if money is worth 14% compounded semi-annually?
ENGINEERING ECONOMY
UPVOTE WILL BE GIVEN. PLEASE WRITE THE COMPLETE SOLUTIONS LEGIBLE. FOLLOW THE INSTRUCTIONS CAREFULLY.
Draw CASH FLOW DIAGRAMS for the GIVEN AND REQUIRED/FIND.
Begins the solutions by writing the equations/formulas.
Use 2 decimal places and Box the final answer.
Five friends plan to establish a consulting firm after 5 years. The plan is for each to make semi-annual deposits of P15,000 in their respective bank accounts starting at the end of the first semester after the agreement up to the 5th year. All deposits are to be made every end of the periods. One of them is not capable of starting at the same time with everyone because of a present obligation but promised to start her deposits by the end of the first semester after the second year until the 5th year. How much should she deposit in equal amounts to save as much as each of her friends if money is worth 14% compounded semi-annually?
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