ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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4. A person want to have 500,000 dollars at the end of 12
years. To obtain that aim, this person deposit P at the end of
each month during 12 years, with a constant interest rate 0.06
per annum compounded monthly. What is P?
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Transcribed Image Text:4. A person want to have 500,000 dollars at the end of 12 years. To obtain that aim, this person deposit P at the end of each month during 12 years, with a constant interest rate 0.06 per annum compounded monthly. What is P?
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