Question: A man decides to deposit a certain amount which will be equivalent to P 2 8 , 0 0 0 with today's purchasing power of

A man decides to deposit a certain amount which will be equivalent to P28,000 with today's purchasing power of the peso on his son's 18th birthday when he will start his college education. If today is his son's 5 th birthday and the bank pays 5.5% interest compounded annually but the rate of inflation is 8.7% compounded annually, how much should the man deposit now?
A man decides to deposit a certain amount which will be

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