You have an older brother who plan to marry his long time girlfriend after 6 years. The couple estimated that they will need P1 000 000 for their wedding in 6 years.. They plan to save the same amount of money each year starting the end of this year. in order to cover wedding expenses. If they can invest their money in an instrument that yields 5% annually, how much do they need to save every year?
You have an older brother who plan to marry his long time girlfriend after 6 years. The couple estimated that they will need P1 000 000 for their wedding in 6 years.. They plan to save the same amount of money each year starting the end of this year. in order to cover wedding expenses. If they can invest their money in an instrument that yields 5% annually, how much do they need to save every year?
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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You have an older brother who plan to marry his long time girlfriend after 6 years. The couple estimated that they will need P1 000 000 for their wedding in 6 years.. They plan to save the same amount of money each year starting the end of this year. in order to cover wedding expenses. If they can invest their money in an instrument that yields 5% annually, how much do they need to save every year?
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