Mr. Rankine bought a piece of property for P100,000 down payment for 10 years deferred semiannual payments of P8,000 starting 3 years from now. If the interest rate is 12% compounded semi-annually, what is the present worth of the property?

Mr. Rankine bought a piece of property for P100,000 down payment for 10 years deferred semiannual payments of P8,000 starting 3 years from now. If the interest rate is 12% compounded semi-annually, what is the present worth of the property?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Mr. Rankine bought a piece of property for P100,000 down payment for 10 years deferred semiannual payments of P8,000 starting 3 years from now. If the interest rate is 12% compounded
semi-annually, what is the present worth of the property?

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