Answered: The company wanted to receive P500,000…

The company wanted to receive P500,000 6 years from now. Considering an interest of 14% compounded semi-annually, find the amount must be deposited in the bank to receive the amount after 6 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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The company wanted to receive P500,000 6 years from now. Considering an interest of 14% compounded semi-annually, find the amount must be deposited in the bank to receive the amount after 6 years?

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