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You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you paid is 60k pesos at a rate of 6% per year. The first payment is done after 4 years. How much are you paying every payment?

You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you paid is 60k pesos at a rate of 6% per year. The first payment is done after 4 years. How much are you paying every payment?

Essentials Of Investments
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
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You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you paid is 60k pesos at a rate of 6% per year. The first payment is done after 4 years. How much are you paying every payment? ANSWER: A = P122.5433 Deferred Annuity – paid after a certain time of delay
Transcribed Image Text:You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you paid is 60k pesos at a rate of 6% per year. The first payment is done after 4 years. How much are you paying every payment? ANSWER: A = P122.5433 Deferred Annuity – paid after a certain time of delay
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