An annuity of quarterly payments of P7,000 starts at the end of 4 years and end of 10 years. Find its present value if the interest rate is 8% compounded quarterly.
An annuity of quarterly payments of P7,000 starts at the end of 4 years and end of 10 years. Find its present value if the interest rate is 8% compounded quarterly.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 17PROB
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[5P2] Directions: Determine the kind of annuity used in the following situations. Then, solve the problem. Show complete solutions.
- An annuity of quarterly payments of P7,000 starts at the end of 4 years and end of 10 years. Find its present value if the interest rate is 8% compounded quarterly.
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