t is desired to have P100,000 two ye- m now by depositing P20,000 now a form monthly amounts, the first of v made one year from now. What wou nthly amount be if interest rate is 12 mPOynded monthly?

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
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8. It is desired to have P100,000 two years
from now by depositing P20,000 now and 10
uniform monthly amounts, the first of which to
be made one year from now. What would that
monthly amount be if interest rate is 12% pa
compounded monthly?
Select the correct response.:
O P6,990.42
O P 9,277.10
O . P7,060.33
O P 6,921.21
Transcribed Image Text:8. It is desired to have P100,000 two years from now by depositing P20,000 now and 10 uniform monthly amounts, the first of which to be made one year from now. What would that monthly amount be if interest rate is 12% pa compounded monthly? Select the correct response.: O P6,990.42 O P 9,277.10 O . P7,060.33 O P 6,921.21
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