Answered: Find the present value of a contract…

Find the present value of a contract that requires yearly payments of P 11,832 for 20 years. Money is worth 3.37% for the first eight years and 8.02% for the last 12 years.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...

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Find the present value of a contract that requires yearly payments of P 11,832 for 20
years. Money is worth 3.37% for the first eight years and 8.02% for the last 12 years.

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