A sum of P 2,000 is invested now and left for nine years, at which time...
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A sum of P 2,000 is invested now and left for nine years, at which time the principal is withdrawn. The interest has accrued is left for another nine years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year? A sum of P 2,000 is invested now and left for nine years, at which time the principal is withdrawn. The interest has accrued is left for another nine years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year?
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