Pedro deposits four installments in his savings account as follows: BRL 2500 initial deposit (today); BRL 5000 after 3 months; BRL 9000 after 10 months; BRL 7000 after 16 months; Since all deadlines are related to the first deposit, calculate the balance at the time of the last deposit, since the rate is 2% per month. The balance on the last deposit will be R$ ?
Pedro deposits four installments in his savings account as follows: BRL 2500 initial deposit (today); BRL 5000 after 3 months; BRL 9000 after 10 months; BRL 7000 after 16 months; Since all deadlines are related to the first deposit, calculate the balance at the time of the last deposit, since the rate is 2% per month. The balance on the last deposit will be R$ ?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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Question
Pedro deposits four installments in his savings account as follows:
BRL 2500 initial deposit (today);
BRL 5000 after 3 months;
BRL 9000 after 10 months;
BRL 7000 after 16 months;
Since all deadlines are related to the first deposit, calculate the balance at the time of the last deposit, since the rate is 2% per month. The balance on the last deposit will be R$ ?
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