On the day the child is born, Allyson wishes to determine what lump sum would have to be paid into an account bearing interest at 6% compounded annually in order to withdraw Php. 30,000.00 each on the child's 18 th. 19 th, 20 th and 21 st birthdays. How much is the lump sum amount?

On the day the child is born, Allyson wishes to determine what lump sum would have to be paid into an account bearing interest at 6% compounded annually in order to withdraw Php. 30,000.00 each on the child's 18 th. 19 th, 20 th and 21 st birthdays. How much is the lump sum amount?

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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On the day the child is born, Allyson wishes to
determine what lump sum would have to be paid into an
account bearing interest at 6% compounded annually in
order to withdraw Php. 30,000.00 each on the child's 18 th.
19 th, 20 th and 21 st birthdays. How much is the lump sum
amount?

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