As a rental for a building, the owner received two offers: (A) P50000 a year for 8 years, the rental for each year paid at the start of the year (B) P30000 the first year, P40000 the second year, P50000 the third year, and P60000 for the next 5 years with all rentals paid at the beginning of each year. If money is worth 12%, which is the better offer?
As a rental for a building, the owner received two offers: (A) P50000 a year for 8 years, the rental for each year paid at the start of the year (B) P30000 the first year, P40000 the second year, P50000 the third year, and P60000 for the next 5 years with all rentals paid at the beginning of each year. If money is worth 12%, which is the better offer?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:1. As a rental for a building, the owner received two offers:
(A) P50000 a year for 8 years, the rental for each year paid at the start of the year
(B) P30000 the first year, P40000 the second year, P50000 the third year, and P60000 for
the next 5 years with all rentals paid at the beginning of each year.
If money is worth 12%, which is the better offer?
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