BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ms. Laarni is a beneficiary of a P1, 000, 000 insurance policy. Instead of taking the money as lump sum, she opted to receive a monthly stipend over a period of 10 years. If the insurance policy pays an interest of 5% compounded annually, what will be her monthly stipend?
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P100, 000
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P10, 552.28
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P50, 000
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P17, 552.28
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Explanation:
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