How much money must initially be deposited in a savings account paying 5% per year, compounded annually, to provide for ten annual withdrawals that start at ₱6000 and decrease by ₱500 each year?
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How much money must initially be deposited in a savings account paying 5% per year, compounded annually, to provide for ten annual withdrawals that start at ₱6000 and decrease by ₱500 each year?
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- How many years will be required for a given sum of money to be 8 times the principal amount, if it is deposited in a bank account that pays 7.80% per year, compounded annually?Supposed that P2,000 is deposited each year , on a continues basis into a savings account that pays 6 % per year, compounded continuously . How much money will have accumulated after 12 years ?How much must be deposited today in a savings bank to accumulate Php 100,000 after 5 years if the money earns 3.5% compounded quarterly?
- At what rate must funds be continuously added to a savings account in order to accumulate $13,000 in 5 years, if interest is paid at 6% per year, compounded continuously?How much money must be deposited at the end of each year in a savings account that pays 9% per year, compounded continuously to have to have a total of P 10,000 at the end of 14 years?. What lump sum of money must be deposited in a bank account at present time so that Php 500 monthly can be withdrawn for five years with the first withdrawal scheduled six years from today? Interest rate is 9% compounded quarterly.
- What lump sum of money must be deposited into a bank account at the present time so that $500 per month can be withdrawn for five years, with the first withdrawal scheduled for six years from today? The interest rate is 0.75% per month.What lump sum of money must be deposited in a bank account at present time so that Php 500 per monthly can be withdrawn for five years with the first withdrawal scheduled six years from today? Interest rate is 9% compounded quarterly.How much money should be invested in an account that earns 9.5% interest, compounded monthly, in order to have ₱30,000 in 5 years?
- If P25, 000 is deposited now into a savings account that earns 6% per year, what uniform annual amount could be withdrawn at the end of each year for ten years so that nothing would be left in the account after the 10th withdrawal? show step by step.A certain sum of money will be deposited in a savings account that pays interest at the rate of 6% per year compounded annually. If all money is allowed to accumulate, how much must be deposited initially so that 5000 pesos will have accumulated after 10 years? (Show step by step solutions)What is the amount a person would need to deposit today to be able to withdraw $6,000 each year for ten years from an account earning 6 percent?