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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Question
A series of year and payments extending over eight years are as follows:
First Year : P11,085
Second Year: P23,819
Third Year: P30,911
Fourth-Eight Year: P40,000
Assuming money is worth 12.15% Compounded annually. Determine the ff:
a.)
b.) Equivalent semi-annual payments. (Answer: 10,627.783)
Note: Show the step by step solution. Don't use excel.
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