A recent government study reported that a college degree is worth an extra Php23000 per year in income (A) compared to what a high-school graduate makes. If the interest (i) is 6% per you and you work for 40 years (N), what is the future compound amount (F) of this extra income?

A recent government study reported that a college degree is worth an extra Php23000 per year in income (A) compared to what a high-school graduate makes. If the interest (i) is 6% per you and you work for 40 years (N), what is the future compound amount (F) of this extra income?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 22P

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