A house costs P2,900,000 cash. The seller and the buyer had agreed to have a series of annual payment for 10 years, beginning of each period at 8% compounded annually. How much is the annual payments?
A house costs P2,900,000 cash. The seller and the buyer had agreed to have a series of annual payment for 10 years, beginning of each period at 8% compounded annually. How much is the annual payments?
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
Section: Chapter Questions
Problem 1PS
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A house costs P2,900,000 cash. The seller and the buyer had agreed to have a series of annual
payment for 10 years, beginning of each period at 8% compounded annually. How much is the
annual payments?
4 A series of payments extending over ten years are as follows: P20,000 for the first year, P30,000 for the second year, P40,000 for the third year, and P60,000 for each year from the fourth through the 10
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