nd invests P20,000 for 40 years in an account earning 9% interest per year. How much will she ccumulate in this account after 40 years have passed?
nd invests P20,000 for 40 years in an account earning 9% interest per year. How much will she ccumulate in this account after 40 years have passed?
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:Your cousin wants to buy a fancy watch for P21,250. Instead, you suggest that she buy an
inexpensive watch for P1,250 and save the difference of P20,000. Your cousin agrees with your idea
and invests P20,000 for 40 years in an account earning 9% interest per year. How much will she
accumulate in this account after 40 years have passed?
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