Question

A young engineering student has just graduated in college. He is able to obtain his first...

A young engineering student has just graduated in college. He is able to
obtain his first job and desires to establish a retirement fund. At the end of every year,
he deposits ₱5,000. Money is worth 12% compounded annually. How old is he when
the fund has an accumulated value of ₱2M?

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Answer #1

The given data are executed in excel.

The enginerring student will be another 34 years older after securing his first job.

The excel calculation are given below:

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