A corporation will make the following disbursements: a. Php 50, 000 on December 31, 1991 b. Php 100,000 on December 31, 1992 c. Php 200,000 one December 31, 1993 To accumulate these sums, an ordinary annuity is established by making equal year-end deposits starting December 31, 1986 up to the end of 1993. If the fund earns 9% interest compounded annually, what is the required amount of the annual deposit?

A corporation will make the following disbursements: a. Php 50, 000 on December 31, 1991 b. Php 100,000 on December 31, 1992 c. Php 200,000 one December 31, 1993 To accumulate these sums, an ordinary annuity is established by making equal year-end deposits starting December 31, 1986 up to the end of 1993. If the fund earns 9% interest compounded annually, what is the required amount of the annual deposit?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 26P

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