Denvert is planning to make two deposits, PhP 40,000 now and PhP 50,000 at the end of year 8. On the tenth year, he plans to make an five annual withdrawals. The first amount is worth "X and will increase by PhP 1000. Determine the value of X if his deposits earn 10.5 % compounded annually.

Denvert is planning to make two deposits, PhP 40,000 now and PhP 50,000 at the end of year 8. On the tenth year, he plans to make an five annual withdrawals. The first amount is worth "X and will increase by PhP 1000. Determine the value of X if his deposits earn 10.5 % compounded annually.

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

Denvert is planning to make two deposits, PhP 40,000 now and PhP 50,000 at the end
of year 8. On the tenth year, he plans to make an five annual withdrawals. The first
amount is worth "X and will increase by PhP 1000. Determine the value of X if his
deposits earn 10.5 % compounded annually.

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