Question
A sum of P1,000 is invested now by Ann and left for 8 years at which time the principal is withdrawn The interest that has
A sum of P1,000 is invested now by Ann and left for 8 years at which time the principal is withdrawn The interest that has accrued is left for another 8 years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of 16th year?
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Managerial Economics
Authors: Paul Keat, Philip K Young, Steve Erfle
7th edition
0133020266, 978-0133020267
