Benjie purchased a house and lot. He paid P500,000 as a down payment and was required to pay P10,000 every end of six months for the next 15 years at the rate of 10% compounded semi annually. Determine the cash value of the house and lot.
Benjie purchased a house and lot. He paid P500,000 as a down payment and was required to pay P10,000 every end of six months for the next 15 years at the rate of 10% compounded semi annually. Determine the cash value of the house and lot.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Benjie purchased a house and lot. He paid P500,000 as a down payment and was required to pay P10,000 every end of six months for the next 15 years at the rate of 10% compounded semi annually. Determine the cash value of the house and lot.
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