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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Question
A man takes a series of 10 annual deposits starting at PhP 2000 at the end of the first year and increasing the amount of deposit by 10% every year thereafter. Find the total amount of the deposits at the end of 10 years. If the rate of interest is 12% per year. Show the cashflow diagram.
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