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A student expects that her savings will increase by P200 each month. She deposits her savings in a bank having an interest rate of 3%
A student expects that her savings will increase by P200 each month. She deposits her savings in a bank having an interest rate of 3% per month. She made her deposits for 12 months straight, having an initial deposit of P500. How much can she withdraw 6 months after her last deposit? (Draw cash flow diagram and use arithmetic gradient formula. Validate your answer using accumulation or discounting method.)
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