Problem Statement: ECE Board April 1998
How much must you invest today in order to withdraw P2,000 annually for 10 years if the interest rate is 9%?
- A. P12,835.32
- B. P12,992.22
- C. P12,562.09
- D. P12,004.59
You must invest P12,835.32 today in order to withdraw P2,000 annually for 10 years .
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