A grandmother has a granddaughter entering university 5 years from now. Her granddaughter expects to finish...
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A grandmother has a granddaughter entering university 5 years from now. Her granddaughter expects to finish BS Math in four years and remain in school for six more years and receive a PhD. This grandmother wishes to provide P 50,000 semiannually to her to help her with the expenses. (a) Assuming a 4.5% interest rate convertible semiannually, how much does the grandmother have to deposit today to provide the semiannual (semestral) payments at the end of each semester and continuing for ten years? (4 points) (b) How would this compare (use order relation symbols e.g. (a)>(b) ). if the granddaughter receives half of the amount every quarter at 4.5% interest convertible quarterly; (6 points) (c) Do (a) if each of the payments was to be given before each semester start instead? (4 points) A grandmother has a granddaughter entering university 5 years from now. Her granddaughter expects to finish BS Math in four years and remain in school for six more years and receive a PhD. This grandmother wishes to provide P 50,000 semiannually to her to help her with the expenses. (a) Assuming a 4.5% interest rate convertible semiannually, how much does the grandmother have to deposit today to provide the semiannual (semestral) payments at the end of each semester and continuing for ten years? (4 points) (b) How would this compare (use order relation symbols e.g. (a)>(b) ). if the granddaughter receives half of the amount every quarter at 4.5% interest convertible quarterly; (6 points) (c) Do (a) if each of the payments was to be given before each semester start instead? (4 points)
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