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Annual deposits were made in a fund earning 10% per annum. The first deposit was P2000...

Annual deposits were made in a fund earning 10% per annum. The first deposit was P2000 and each deposit thereafter was P200 less than the preceding one. Determine the amount in the fund after the sixth deposit.

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Answer #1

1 Annual FV Factor Accumulated Year Deposits @ 10% Value P2,000 1.61051 P3,221 [FV factor = (1+10%)^5 = 1.61051; Accumulated

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