Question
A person's savings account is currently worth Php 2,201,976. Every month thereafter, this person will make a cash withdrawal of Php 7,959. What annual rate
A person's savings account is currently worth Php 2,201,976. Every month thereafter, this person will make a cash withdrawal of Php 7,959.
What annual rate of interest should the account earn to sustain the monthly withdrawals indefinitely?
Present your answer in %.
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Agricultural Economics
Authors: Evan Drummond, John Goodwin
3rd edition
136071929, 978-0136071921
