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How many deposits must be placed at the beginning

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Problem 1: To create a fund of P1,000,000, how many deposits of P48,000 must be placed at the beginning of each month if money accumulates at the interest rate of 6% compounded monthly?

Problem 2: ROP Treasury offers to sell you a bond for $651.60. No payments will be made until the bond matures eight years from now, at which time it will be redeemed for $1,000. What interest rate would you earn

Reference no: EM132825275

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