"Nicko deposited 5 equal monthly amounts of P50,000.00 starting one month from today. This is in payment of his total obligation to Pedro. He however failed to make any deposit. Pedro and Nicko subsequently agreed that Nicko just pay 10 equal monthly amounts starting end of 9 months from today. Using 12% interest rate compounded monthly, how much is the worth of the new equal monthly deposits?" O None of the above O 28,460.34" O 29.210.08 O 31,634.22"
"Nicko deposited 5 equal monthly amounts of P50,000.00 starting one month from today. This is in payment of his total obligation to Pedro. He however failed to make any deposit. Pedro and Nicko subsequently agreed that Nicko just pay 10 equal monthly amounts starting end of 9 months from today. Using 12% interest rate compounded monthly, how much is the worth of the new equal monthly deposits?" O None of the above O 28,460.34" O 29.210.08 O 31,634.22"
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:"Nicko deposited 5 equal monthly amounts of P50,000.00 starting one month from today. This is in payment of his total obligation to Pedro. He however failed to make any deposit. Pedro and Nicko subsequently agreed that Nicko just pay 10 equal monthly amounts
starting end of 9 months from today. Using 12% interest rate compounded monthly, how much is the worth of the new equal monthly deposits?"
O None of the above
O "28,460.34"
O "29.210.08"
O "31,634.22"
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