Kyle is a grade 5 student currently taking his modular class at home since the pandemic happened in the last month of the first quarter of that year 2020 here in the Philippines. His Mom Lea tried to invest in Kyle’s future for college which saves money of 500PhP twice a month which started at the beginning of the second quarter. What will be the accumulated value after he finished his Senior High School level assuming that the last contribution and his graduation will be held at the end of the second quarter with the equivalent of 8% cost of money compounded on the stated period of contribution?
Kyle is a grade 5 student currently taking his modular class at home since the pandemic happened in the last month of the first quarter of that year 2020 here in the Philippines. His Mom Lea tried to invest in Kyle’s future for college which saves money of 500PhP twice a month which started at the beginning of the second quarter. What will be the accumulated value after he finished his Senior High School level assuming that the last contribution and his graduation will be held at the end of the second quarter with the equivalent of 8% cost of money compounded on the stated period of contribution?
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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Kyle is a grade 5 student currently taking his modular class at home since the pandemic happened in the last
month of the first quarter of that year 2020 here in the Philippines. His Mom Lea tried to invest in Kyle’s future for
college which saves money of 500PhP twice a month which started at the beginning of the second quarter. What
will be the accumulated value after he finished his Senior High School level assuming that the last contribution
and his graduation will be held at the end of the second quarter with the equivalent of 8% cost of money
compounded on the stated period of contribution?
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