3. An engineer deposits 12.5% of his salary to an investment fund. This amounts to deposits of P100, 000 yearly for ten years. At the beginning of the third and sixth year he deposits an additional...


3. An engineer deposits 12.5% of his salary to an<br>investment fund. This amounts<br>to deposits of<br>P100, 000 yearly for ten years. At the beginning of<br>the third and sixth year he deposits an additional<br>P25, 000 on top of his regular annual deposit. How<br>much money can he withdraw from the fund ten years<br>from now, if the rate of return is 15.2% annually?<br>

Extracted text: 3. An engineer deposits 12.5% of his salary to an investment fund. This amounts to deposits of P100, 000 yearly for ten years. At the beginning of the third and sixth year he deposits an additional P25, 000 on top of his regular annual deposit. How much money can he withdraw from the fund ten years from now, if the rate of return is 15.2% annually?

Jun 06, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here