with the age of 25, Anthony establishes an Individual Retirement Account (IRA).  If he invests P10,000 per year for 30 years in an ordinary annuity, the account earns 7.75% per year, how much will he have in the account at age 55?

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Q: d. Ja d. 1

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Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.