Direction: Solve what is being asked and show your complete and neat solution. (ROUND OF PV FACTORS TO 4 DECIMAL PLACES, ROUND OF FINAL ANSWER TO TWO DECIMAL PLACES. IN MCQs CHOOSE THE BEST ANSWER) If a 5-year ordinary annuity has a present value of P1,000, and if the interest rate is 10 percent, what is the amount of each annuity payment?
Direction: Solve what is being asked and show your complete and neat solution. (ROUND OF PV FACTORS TO 4 DECIMAL PLACES, ROUND OF FINAL ANSWER TO TWO DECIMAL PLACES. IN MCQs CHOOSE THE BEST ANSWER) If a 5-year ordinary annuity has a present value of P1,000, and if the interest rate is 10 percent, what is the amount of each annuity payment?
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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Direction: Solve what is being asked and show your complete and neat solution. (ROUND OF PV FACTORS TO 4 DECIMAL PLACES, ROUND OF FINAL ANSWER TO TWO DECIMAL PLACES. IN MCQs CHOOSE THE BEST ANSWER)
If a 5-year ordinary annuity has a present value of P1,000, and if the interest rate is 10 percent, what is the amount of each annuity payment?
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