The maintenance costs of a new boiler are estimated as follows: P 600 per year for the first 3 years, P X at the 4th year, and P 1,800 per year starting at the 5th year up to the end of its 10 - year life. If the future value of all the maintenance is P 20,000, find the value of X. Money is 6% compounded annually.  a. P 3,901  b. P 3,230 c. P 14,374 d. P 13,268 show solution. do not use excel ans b

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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The maintenance costs of a new boiler are estimated as follows: P 600 per year for the first 3 years, P X at the 4th year, and P 1,800 per year starting at the 5th year up to the end of its 10 - year life. If the future value of all the maintenance is P 20,000, find the value of X. Money is 6% compounded annually. 

a. P 3,901 
b. P 3,230
c. P 14,374
d. P 13,268

show solution. do not use excel ans b

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