engineer wishes to set up a special fund by making uniform semiannual and end-of-period deposits for 20 years. The fund is to provide P100,000 at the end of each of the last five years of the 20-year period. If interest is 8% compounded semiannually, what is the required semiannual deposit to be made? ANS:
engineer wishes to set up a special fund by making uniform semiannual and end-of-period deposits for 20 years. The fund is to provide P100,000 at the end of each of the last five years of the 20-year period. If interest is 8% compounded semiannually, what is the required semiannual deposit to be made? ANS:
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
Problem 22E
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An engineer wishes to set up a special fund by making uniform semiannual and end-of-period deposits for 20 years. The fund is to provide P100,000 at the end of each of the last five years of the 20-year period. If interest is 8% compounded semiannually, what is the required semiannual deposit to be made? ANS: P6,193.39
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