3. Ir the money is worth 5%% compounded annually. what single payment now is equivalent to 45 payments of P 35,000 cach with the first payment due in five years?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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3. If the money is worth 5 4 % compounded annually, what single payment now is equivalent to 45
payments of P 35,000 each with the first payment due in five years?
Transcribed Image Text:3. If the money is worth 5 4 % compounded annually, what single payment now is equivalent to 45 payments of P 35,000 each with the first payment due in five years?
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