Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. P53,535.52 1. How much should you deposit initially in an account paying 10% compounded semiannually in order to have P1,000,000 in 30 years? b.

image text in transcribed
a. P53,535.52 1. How much should you deposit initially in an account paying 10% compounded semiannually in order to have P1,000,000 in 30 years? b. P34,512.35 c. P45,238.45 d. P55,230.65

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Short Term Financial Management

Authors: Terry S. Maness, John T. Zietlow

2nd Edition

0030315131, 978-0030315138

More Books

Students also viewed these Finance questions