In 5 years, P18,000 will be needed to pay for a building renovation. In order to generate this sum, consisting of three annual payments is established now. For tax purpose, no further payments will be made after three years. What payments are necessary if money is worth 15% per annum? a. P3, 919.54 b. P3, 809.54 c. P3, 909.54 d. P3,819.54
In 5 years, P18,000 will be needed to pay for a building renovation. In order to generate this sum, consisting of three annual payments is established now. For tax purpose, no further payments will be made after three years. What payments are necessary if money is worth 15% per annum? a. P3, 919.54 b. P3, 809.54 c. P3, 909.54 d. P3,819.54
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 8P
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In 5 years, P18,000 will be needed to pay for a building renovation. In order to generate this sum, consisting of three annual payments is established now. For tax purpose, no further payments will be made after three years. What payments are necessary if money is worth 15% per annum?
a.
P3, 919.54
b.
P3, 809.54
c.
P3, 909.54
d.
P3,819.54
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