Maintenance money for a new building has been sought Mr. Kendall would like to make a donation to cover all future expected maintenance costs for the building. These maintenance costs are expected to be Php42641 each year for the first 5 years, Php53449 each year for year 6 through 10 and P62395 each year for year 11 through 15. If money is placed in account that will pay 12% interest compounded semi-annually, how large should the gift be? Round your answer to 2 decimal places.

Maintenance money for a new building has been sought Mr. Kendall would like to make a donation to cover all future expected maintenance costs for the building. These maintenance costs are expected to be Php42641 each year for the first 5 years, Php53449 each year for year 6 through 10 and P62395 each year for year 11 through 15. If money is placed in account that will pay 12% interest compounded semi-annually, how large should the gift be? Round your answer to 2 decimal places.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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