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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Transcribed Image Text:Jinky has just completed a financial literacy class and she
is following the advice on how to plan future purchases
based on savings today. Jinky has a stable stream of
income. She knows that every December, she receives
Christmas bonus of which P20,000 can be set aside. She
decides to finance her house and lot based on equity
(personal money). How much more should she save
monthly for 20 years if her investment earns a minimum of
12% per year?
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