Engineering, 21.11.2020 19:30 dhcuajbfrhcyx
Suppose your mother immediately after you were born decided to prepare an educational fund for your llege education. Current time deposit rate on that date was set at 6% per annum and such rate will continue for the next 25 years. She imagined that on your 18th birthday, you will receive your first fund amounting to PhP100,000.00; 120,000.00 on your 19th birthday; 140,000.00 on your 20th birthday; and, 160,000.00 on your 21st birthday. If she will continuously make a deposit until your 14th birthday, how much equal annual amounts shall she deposit?
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