A lot can be acquired at down payment of P200,000.00 and a yearly payment of P30,000.00 at the end of each year for a period of 10 years, starting at the end of 5 years from the date of purchase. If money is worth 5% compounded yearly what is the cash prize of the lot? O a. P390,580.71 O b. P390,058.71 O c. P390,508.71 O d. P309,580.71

A lot can be acquired at down payment of P200,000.00 and a yearly payment of P30,000.00 at the end of each year for a period of 10 years, starting at the end of 5 years from the date of purchase. If money is worth 5% compounded yearly what is the cash prize of the lot? O a. P390,580.71 O b. P390,058.71 O c. P390,508.71 O d. P309,580.71

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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