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A father wishes to provide P40,000 for his son on his son’s 21st birthday. How much should he deposit every 6 months in a savings account which pays 3% compounded semi-annually, if the first deposit was made when the son was 3 ½ years old? Read more: http://www.pinoybix.com/2015/02/mcqs-in-engineering-economics-part14.html#ixzz3jEn9hkxg

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