ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Erwin is 27 years old and he saw a bank offering a time deposit plan with 6%
interest. He does not know how often the bank calculates interest but he is
interested. If he plans to take the offer and wants a sum of Php 20,000 in 10
years, how much should he start his deposit?
11,000 pesos
10,000 pesos
O 12,000 pesos
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Transcribed Image Text:Erwin is 27 years old and he saw a bank offering a time deposit plan with 6% interest. He does not know how often the bank calculates interest but he is interested. If he plans to take the offer and wants a sum of Php 20,000 in 10 years, how much should he start his deposit? 11,000 pesos 10,000 pesos O 12,000 pesos
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