Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
A home video entertainment set is offered for sale for 20124 down payment and P9475 every three months for the balance for 9 months. If interest is to be computed at 5% converted quarterly, then what is the cash price equivalent (or cash value) of the set? Round your answer to 2 decimal places.
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Transcribed Image Text:A home video entertainment set is offered for sale for 20124 down payment and P9475 every three months for the balance for 9 months. If interest is to be computed at 5% converted quarterly, then what is the cash price equivalent (or cash value) of the set? Round your answer to 2 decimal places.
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