Question 1168216
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If Dr. Covey invests Php 2,400,000 from December 31, 2018 to January 1, 2021 at 8% interest per annum, 
will he be able to afford a Php 3,000,000 car thereafter?
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<pre>
Calculate the future value of the one time 2,400,000 Php deposit in 2 (two) years at 8% interest per annum


    FV = {{{2400000(1+0.08)^2}}} = Php 2,799,360,


and the answer "No" will be clear to you.
</pre>

Solved.