Answered: If P30,000 is deposited each year for 9…

If P30,000 is deposited each year for 9 years. How much annuity can a person get annually from the bank for 8 years starting 1 year after the 9th deposit is made? The cost of money is 14%.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Question

If P30,000 is deposited each year for 9 years. How much annuity can a person get annually
from the bank for 8 years starting 1 year after the 9th deposit is made? The cost of money is
14%

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