An investment involves annuity of Php 1172.00 compounded 17.2 times a year at an interest 1.72%. The annuity is to be paid in 46 years. Calculate the annual difference in annuities if the interest is compounded only once a year.
An investment involves annuity of Php 1172.00 compounded 17.2 times a year at an interest 1.72%. The annuity is to be paid in 46 years. Calculate the annual difference in annuities if the interest is compounded only once a year.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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