if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly, how much annuity can a person get annually one year after the last deposit for the next 6 years? a. 36,975.321 b. 68.054.972 c. 48.036.981 d. 57,415.409
if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly, how much annuity can a person get annually one year after the last deposit for the next 6 years? a. 36,975.321 b. 68.054.972 c. 48.036.981 d. 57,415.409
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
Related questions
Question
if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly, how much
a. 36,975.321
b. 68.054.972
c. 48.036.981
d. 57,415.409
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning