A man buys a house and lot worth P1M if paid in cash. On the instalment basis he pays P500,000 down payment; P100,000 at the end of one year and P150,000 at the end of two years and the final payment at the end of four years. Find the final payment if interest is 14% per annum.

A man buys a house and lot worth P1M if paid in cash. On the instalment basis he pays P500,000 down payment; P100,000 at the end of one year and P150,000 at the end of two years and the final payment at the end of four years. Find the final payment if interest is 14% per annum.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1QTD

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