Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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49. How long would it take for you to save an adequate amount for retirement if you deposit Php
40,000 per year into an account beginning today that pays 12 percent per year if you wish to have a
total of Php 1,000,000 at retirement?
A. 12.2 years
C. 14.8 years
B. 10.5 years
D. 11.5 years
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Transcribed Image Text:49. How long would it take for you to save an adequate amount for retirement if you deposit Php 40,000 per year into an account beginning today that pays 12 percent per year if you wish to have a total of Php 1,000,000 at retirement? A. 12.2 years C. 14.8 years B. 10.5 years D. 11.5 years
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