Anna deposits at the beginning of every month of P1,500 into an annuity for 6 years. If she wishes to accumulate P200,000 after 10 years, what interest rate compounded monthly will be required to do...

This is engineering economics subject.


Extracted text: Anna deposits at the beginning of every month of P1,500 into an annuity for 6 years. If she wishes to accumulate P200,000 after 10 years, what interest rate compounded monthly will be required to do this? Use process of interpolation, assume values of i equals 5% to 15%.