Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly. a.What is her monthly deposits? b.What is the present worth of these deposits?
Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly. a.What is her monthly deposits? b.What is the present worth of these deposits?
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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Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly.
a.What is her monthly deposits?
b.What is the present worth of these deposits?
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