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9. Kind Heart Foundation opened a savings account to provide P500 000.00 in yearly scholarship grants. The account will earn 8% interest annually for the

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9. Kind Heart Foundation opened a savings account to provide P500 000.00 in yearly scholarship grants. The account will earn 8% interest annually for the first 15 years and 10% interest thereafter. Determine the single deposit required for the grants to continue perpetually. (Ans. P5855 947.87)

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