s ago, Thomasian Engineer TE had P5,000,000.00 in his UST Security Bank (USTSB) Account. Last month, TE also deposited in USTSB the sum of P300,000.00. Considering that USTSB Employees are courteous and cheerful, he again deposited today P400,000.00 to his account. Because of the educational needs of his chosen scholars, he plans to withdraw an amount, X, starting 5 months from today. He will also withdraw the same amount for the succeeding 6 months or up to August 2023. If his plan is to have a remaining outstanding balance of P4,500,000.00 at the end of November 2023, what do you think will be the value of X? Use i = 12% Compounded Monthly.

s ago, Thomasian Engineer TE had P5,000,000.00 in his UST Security Bank (USTSB) Account. Last month, TE also deposited in USTSB the sum of P300,000.00. Considering that USTSB Employees are courteous and cheerful, he again deposited today P400,000.00 to his account. Because of the educational needs of his chosen scholars, he plans to withdraw an amount, X, starting 5 months from today. He will also withdraw the same amount for the succeeding 6 months or up to August 2023. If his plan is to have a remaining outstanding balance of P4,500,000.00 at the end of November 2023, what do you think will be the value of X? Use i = 12% Compounded Monthly.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 41P

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