If a 5-year ordinary annuity has a present value of Php 1,000, and if the interest rate is 10 percent, what is the amount of each annuity payment? A.Php 240.42 B. Php 263.80 C. Php 300.20 D. Php 315.38 E. Php 346.87

If a 5-year ordinary annuity has a present value of Php 1,000, and if the interest rate is 10 percent, what is the amount of each annuity payment? A.Php 240.42 B. Php 263.80 C. Php 300.20 D. Php 315.38 E. Php 346.87

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 20E

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Question

If a 5-year ordinary annuity has a present value of Php 1,000, and if the interest rate is 10 percent, what is the amount of each annuity payment?

A.Php 240.42

B. Php 263.80

C. Php 300.20

D. Php 315.38

E. Php 346.87

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