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Your Great-Uncle has been withdrawing P1,000,000 each year for 35 yearsnow from a government retirement...

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Accounting

Your Great-Uncle has been withdrawing P1,000,000 each year for 35 yearsnow from a government retirement fund. Had he invested 25% of each yearsamount in stocks that provide a net annual 16% rate of return for the past 35years, how much would he have in value today? ANS:62,303,506 show solution

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