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Determine how much will have accumulated

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A 50-year-old man decided to put funds into a college investment fund for his grandson. He can save P25,000 a year and his bank allows him to earn 5% on his savings.

Question 1) How much will he have accumulated if he retires at age 65 and stops saving for the fund?

Question 2) What is the interest factor?

Question 3) What type of investing is this: normal compounding, ordinary annuity or annuity due?

Reference no: EM132755267

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