An employee is entitled to a 10 yearly grant of 25,000 pesos each starting at the end of the eleventh year from now. Using an interest rate of 7% compounded annually, what is the value of these grant now?
An employee is entitled to a 10 yearly grant of 25,000 pesos each starting at the end of the eleventh year from now. Using an interest rate of 7% compounded annually, what is the value of these grant now?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 8P
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An employee is entitled to a 10 yearly grant of 25,000 pesos each starting at the end of the eleventh year from now. Using an interest rate of 7% compounded annually, what is the value of these grant now?
need answer in 20 mins sorry for rushing you guys :(
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