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1. How much Atty. Miranda deposit at the birth of his son in a bank that pays 18 % in order that the son can make 4 yearly withdrawals of P10,000.00 each, the first withdrawal to be made on his 16th birthday?
2. On the first day each month from 1986 to 1990, the sum of P500 was deposited in a fund paying 8%coumpunded monthly. No further deposits were made, and the accounts was withdrawn on June 1, 1991. How much was withdrawn?
Sagot :
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