anonymous
  • anonymous
A parent on the day the child is born wishes to determine what lump sum would have to be paid into an account bearing interest at 5% compounded annually, in order to withdraw P20,000 each on the child’s 18th, 19th, 20th and 21st birthdays. How much is the lump sum amount? Help please
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
@mathmate
anonymous
  • anonymous
@ganeshie8
anonymous
  • anonymous
@Preetha

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anonymous
  • anonymous
@.
anonymous
  • anonymous
@.Sam.
IrishBoy123
  • IrishBoy123
discount those payments back at 5% to today. ie calculate their present values at 5%. so you will have \(\huge \Sigma_{n=18}^{21} \frac{20} {(1+5\%)^n } \)
mathmate
  • mathmate
@irishboy123 nice!

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