homas deposited 300,000Php now, so that his 3 year old daughter will receive 6 equal amounts of ey yearly, starting on her 18th birthday. If money earns 20% compounded annually. How much the eceived yearly? er: A = P1,158,244.98

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
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Q4: Engineering Economics. Please (1) Identify the Given (2). Draw a cash flow diagram (3). Show Solution in getting the final answer indicated.

Q4. Thomas deposited 300,000Php now, so that his 3 year old daughter will receive 6 equal amounts of
money yearly, starting on her 18th birthday. If money earns 20% compounded annually. How much the
girl received yearly?
Answer: A = P1,158,244.98
Transcribed Image Text:Q4. Thomas deposited 300,000Php now, so that his 3 year old daughter will receive 6 equal amounts of money yearly, starting on her 18th birthday. If money earns 20% compounded annually. How much the girl received yearly? Answer: A = P1,158,244.98
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