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

Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
Section: Chapter Questions
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In five years, P18,000 will be needed to pay for a building renovation. In order to generate this
sum, a sinking fund consisting of three annual payments is established now. For tax purposes,
no further payment will be made after three years. What payments are necessary if money
worth 15% per annum?
P3,919.52
O P3,871.23
P3,781.32
P3,199.52
Transcribed Image Text:In five years, P18,000 will be needed to pay for a building renovation. In order to generate this sum, a sinking fund consisting of three annual payments is established now. For tax purposes, no further payment will be made after three years. What payments are necessary if money worth 15% per annum? P3,919.52 O P3,871.23 P3,781.32 P3,199.52
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