A debt of 'x' pesos, with an interest rate of 7% compounded annually will be retired at the end of 10 years through the accumulation of deposit in the sinking fund invested at 6% compounded semi-annually. The deposit in the sinking fund every end of six months is Php21,962.68. What is the value of 'x'?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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#2 Please answer the problem Subject: engineering economics
A debt of 'x' pesos, with an interest rate of 7% compounded annually will be retired
at the end of 10 years through the accumulation of deposit in the sinking fund
invested at 6% compounded semi-annually. The deposit in the sinking fund every
end of six months is Php21,962.68. What is the value of 'x'?
Transcribed Image Text:A debt of 'x' pesos, with an interest rate of 7% compounded annually will be retired at the end of 10 years through the accumulation of deposit in the sinking fund invested at 6% compounded semi-annually. The deposit in the sinking fund every end of six months is Php21,962.68. What is the value of 'x'?
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