A total of 50 bonds is issued by a corporation at ₱ 1,000 face value each. The bonds are to be redeem by the corporation after 15 years. A fund is established by means of an ordinary annuity for redemption, the interest rate being 4 % compounded annually. Find the annual deposit for this fund.
A total of 50 bonds is issued by a corporation at ₱ 1,000 face value each. The bonds are to be redeem by the corporation after 15 years. A fund is established by means of an ordinary annuity for redemption, the interest rate being 4 % compounded annually. Find the annual deposit for this fund.
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 total of 50 bonds is issued by a corporation at ₱ 1,000 face value each. The bonds are to be
redeem by the corporation after 15 years. A fund is established by means of an ordinary
redemption, the interest rate being 4 % compounded annually. Find the annual deposit for this fund.
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