An item will need replacing in 6 years from now at a cost of ₱128,000.00. How much should the owner save at the beginning of each 3 months in order to replace the old item, if his savings earn interest at 10% compounded quarterly?

An item will need replacing in 6 years from now at a cost of ₱128,000.00. How much should the owner save at the beginning of each 3 months in order to replace the old item, if his savings earn interest at 10% compounded quarterly?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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