difference between the sums of an annuity due and an ordinary annuity
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 5P
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Question
Find the difference between the sums of an annuity due and an ordinary annuity for the following data.
Periodic payment = P10,000
Payment Interval = 3 months
Term = 14 years
Interest rate = 9.5% compounded quarterly
Express your answer in whole number.
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