In 5 years, P18,000 will be needed to pay for a building renovation. In order to generate this sum, consisting of three annual payments is established now. For tax purpose, no further payments will be made after three years. What payments are necessary if money is worth 15% per annum? a. P3, 919.54 b. P3, 809.54 c. P3, 909.54 d. P3,819.54

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
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In 5 years, P18,000 will be needed to pay for a building renovation. In order to generate this sum, consisting of three annual payments is established now. For tax purpose, no further payments will be made after three years. What payments are necessary if money is worth 15% per annum?

 

a.
P3, 919.54
b.
P3, 809.54
c.
P3, 909.54
d.
P3,819.54
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