ANNUITY DUE PROBLEMManny Pacquiao bought a luxury car. Paid P 500,000 as down payment and P 30,000 payable at the beginning of each month for 36 months. If money is worth 10% compounded monthly. What is the equivalent cash value of the car?

All sorts of future cash flows in respect of adding interest on present value are known as future…

Answered: ANNUITY D

Business

Accounting

ANNUITY D

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ANNUITY DUE PROBLEM

Manny Pacquiao bought a luxury car. Paid P 500,000 as down payment and P 30,000 payable at the beginning of each month for 36 months. If money is worth 10% compounded monthly. What is the equivalent cash value of the car?

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