Asked by taichi
If you want to receive Php2,000,000 at the end of 20 years in a bank earning 2% interest compounded semi-annually, how much money should you invest today?
Answers
Answered by
mathhelper
P(1.01)^40 = 2,000,000
P = 2,000,000/1.01^40
= ...
P = 2,000,000/1.01^40
= ...
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