A MAN PAYS HIS DEBT IN THE FOLLOWING MANNER: P1,000 AFTER 1 YEAR, P900 AFTER 2 YEARS, P800 AFTER 3 YEARS AND SO ON UP TO 6TH YEAR. FIND THE ACCUMULATE AMOUNT OF THESE PAYMENTS BUT THE RATE OF 13% COMPOUNDED ANNUALLY.

A MAN PAYS HIS DEBT IN THE FOLLOWING MANNER: P1,000 AFTER 1 YEAR, P900 AFTER 2 YEARS, P800 AFTER 3 YEARS AND SO ON UP TO 6TH YEAR. FIND THE ACCUMULATE AMOUNT OF THESE PAYMENTS BUT THE RATE OF 13% COMPOUNDED ANNUALLY.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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A MAN PAYS HIS DEBT IN THE FOLLOWING MANNER: P1,000
AFTER 1 YEAR, P900 AFTER 2 YEARS, P800 AFTER 3 YEARS
AND SO ON UP TO 6TH YEAR. FIND THE ACCUMULATE
AMOUNT OF THESE PAYMENTS BUT THE RATE OF 13%
COMPOUNDED ANNUALLY.

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