Assume that Kikay Company is to make annual investment of P500,000 for five years. The interest for this investment was pegged at 10%. The investment is made at year end. What is the future value of this annuity?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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Assume that Kikay Company is to make annual investment of P500,000 for five years. The interest for this investment was pegged at 10%. The investment is made at year end. What is the future value of this annuity?

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