Amy will need PHP 1.75M on July 4, 2015. To prepare for this, she places equal deposits at the end of each in fund earning 8% compounded annually. How much is the annual deposit is the first deposit is on July 4, 2010 and the last one is on July 4, 2015? O PHP 129,671.71 PHP 238,551.93 PHP 144,768.42 PHP 245,938.81 None of the above

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
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Amy will need PHP 1.75M on July 4, 2015. To prepare for this, she places equal deposits
at the end of each in fund earning 8% compounded annually. How much is the annual
deposit is the first deposit is on July 4, 2010 and the last one is on July 4, 2015?
PHP 129,671.71
PHP 238,551.93
PHP 144,768.42
PHP 245,938.81
None of the above
Transcribed Image Text:Amy will need PHP 1.75M on July 4, 2015. To prepare for this, she places equal deposits at the end of each in fund earning 8% compounded annually. How much is the annual deposit is the first deposit is on July 4, 2010 and the last one is on July 4, 2015? PHP 129,671.71 PHP 238,551.93 PHP 144,768.42 PHP 245,938.81 None of the above
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