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A man wishes his son to receive P632.147 fifteen years from now at three different interest rates. The interest rate in the first 64 months is 10.265% compounded bimonthly, 9.365% compounded quarterly for the next 57 months and 15.954% compounded monthly for the rest of the period. What amount should he invest now?

A man wishes his son to receive P632.147 fifteen years from now at three different interest rates. The interest rate in the first 64 months is 10.265% compounded bimonthly, 9.365% compounded quarterly for the next 57 months and 15.954% compounded monthly for the rest of the period. What amount should he invest now?

EBK CFIN
EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 18PROB
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A man wishes his son to receive P632.147 fifteen years from now at three different interest rates. The interest rate in the first 64 months is 10.265% compounded bimonthly, 9.365% compounded quarterly for the next 57 months and 15.954% compounded monthly for the rest of the period. What amount should he invest now?
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