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what is the cash price of the property?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 9EB: If you invest $15,000 today, how much will you have in (for further instructions on future value in...

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Question

A house and lot can be acquired by a down payment of P500, 000 and a yearly payment of ten
P100, 000 at the end of 5 years from the date of purchase. If money is worth 14% compounded
annually, what is the cash price of the property?

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