Question
A chemical engineer wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide P100,000
A chemical engineer wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide P100,000 at the end of each of the last five years of the 20-year period. If interest is 8% compounded semiannually, what is the required semiannual deposit to be made?
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Not For Profit Audit Committee Best Practices
Authors: Warren Ruppel
1st Edition
0471697419, 978-0471697411
