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What will balance be at the end of year five

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Problem 1: Assume that you can invest to earn a stated annual rate of return of 12%, but where interest is compounded semiannually. If you make consecutive semi-annual deposits of P500 each, with the first deposit being made today, what will your balance be at the end of Year 5?

Option 1: P1,762.34
Option 2: P881.17
Option 3: P6,590.40
Option 4: P440.59

Reference no: EM132815395

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