Engr. Como decided to buy a townhouse amounting to 5N IT pald today. He is been told that he is to pay this at the rate of 6% compounded semi-annually. If he is to pay 200k every six months. How long it will take for him to pay the townhouse fully if payments are made at the beginning of the month? ANSWER: v = 22.0328yrs
Engr. Como decided to buy a townhouse amounting to 5N IT pald today. He is been told that he is to pay this at the rate of 6% compounded semi-annually. If he is to pay 200k every six months. How long it will take for him to pay the townhouse fully if payments are made at the beginning of the month? ANSWER: v = 22.0328yrs
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 19PROB
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Topic: Annuities due
Formulas in annuities due
*future value , F=C [(1+i)^n -1/i] (1+i)
* present value, P=C [1-(1+i)^-n/i] (1+i)
Please show how the final answer arrived.
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