AN EMPLOYEE IS ABOUT TO RECEIVE THE SUM OF P300.00 AT THE END OF EACH YEAR FOR 5 YEARS. ONE YEAR PRIOR TO THE RECEIPT OF THE FIRST SUM, HE DECIDED TO DISCOUNT ALL 5 SUMS. IF THE INTEREST RATE IS 6%, WHAT PROCEEDS WILL HE OBTAIN? a.P1,236.71 b.P1,263.71 c.P1,362.71 d.P1,623.71

AN EMPLOYEE IS ABOUT TO RECEIVE THE SUM OF P300.00 AT THE END OF EACH YEAR FOR 5 YEARS. ONE YEAR PRIOR TO THE RECEIPT OF THE FIRST SUM, HE DECIDED TO DISCOUNT ALL 5 SUMS. IF THE INTEREST RATE IS 6%, WHAT PROCEEDS WILL HE OBTAIN? a.P1,236.71 b.P1,263.71 c.P1,362.71 d.P1,623.71

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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AN EMPLOYEE IS ABOUT TO RECEIVE THE SUM OF P300.00 AT THE END OF EACH YEAR FOR 5 YEARS. ONE YEAR PRIOR TO THE RECEIPT OF THE FIRST SUM, HE DECIDED TO DISCOUNT ALL 5 SUMS. IF THE INTEREST RATE IS 6%, WHAT PROCEEDS WILL HE OBTAIN?

a.P1,236.71

b.P1,263.71

c.P1,362.71

d.P1,623.71

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