Elly and Kim are planning for their wedding in 2025. Unfortunately, they can't afford to pay in full the reception. The manager offered a monthly payment of Php 4,520 for 39 months with 0.87% interest compounded quarterly for them to avail the reception. How much is the contract price of the reception?

Elly and Kim are planning for their wedding in 2025. Unfortunately, they can't afford to pay in full the reception. The manager offered a monthly payment of Php 4,520 for 39 months with 0.87% interest compounded quarterly for them to avail the reception. How much is the contract price of the reception?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 5E

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