question archive Jewel makes year-end deposits of 1000 php the first year, 1050 php the second year and so on, increasing the next year's deposit by 5% in the preceding year until the end of the 20th year
Jewel makes year-end deposits of 1000 php the first year, 1050 php the second year and so on, increasing the next year's deposit by 5% in the preceding year until the end of the 20th year
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Jewel makes year-end deposits of 1000 php the first year, 1050 php the second year and so on, increasing the next year's deposit by 5% in the preceding year until the end of the 20th year. Gem makes a year-end deposits of 1000 php each year increasing the next year's deposit by a constant amount of 100 php in the preceding year until the end of the 20th year. If interest on both funds is 10% compounded annually, What are the equivalent annuity of each savings?
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