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A man wishes to bequeath to his daughter P20,000 ten years from now. What amount should he invest now if it will earn Interest of

A man wishes to bequeath to his daughter P20,000 ten years from now. What amount should he invest now if it will earn Interest of 8% compounded annually during the first 5 years and 12% compounded quarterly during the next 5 years? (Ans P7,536.45) (show complete solution)

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