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If P8,000 is deposited in the bank each year for 10 years, how much annuity can aperson get annually from the bank every year for 6 years starting 1 year after the 10th deposit is made. cost of money is 12%.

If P8,000 is deposited in the bank each year for 10 years, how much annuity can aperson get annually from the bank every year for 6 years starting 1 year after the 10th deposit is made. cost of money is 12%.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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If P8,000 is deposited in the bank each year for 10 years, how much annuity can aperson get annually from the bank every year for 6 years starting 1 year after the 10th deposit is made. cost of money is 12%.

3. If P8,000 is deposited in the bank each year for 10 years, how much annuity can a person get annually from the bank every year for 6 years starting 1 year after the 10th deposit is made. cost of money is 12%.
Transcribed Image Text:3. If P8,000 is deposited in the bank each year for 10 years, how much annuity can a person get annually from the bank every year for 6 years starting 1 year after the 10th deposit is made. cost of money is 12%.
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