A certain annuity pays P 80 at the end of every 3 months. If the present value of the annuity is P1.200 and the accumulated future amount is P 2,000, determine the nominal rate compounded quarterly. Select one O a l1.24% O b. 12.32% O c. 10.67%

A certain annuity pays P 80 at the end of every 3 months. If the present value of the annuity is P1.200 and the accumulated future amount is P 2,000, determine the nominal rate compounded quarterly. Select one O a l1.24% O b. 12.32% O c. 10.67%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A certain annuity pays P 80 at the end of every 3 months. If the present
value of the annuity is P 1,200 and the accumulated future amount is P
2,000, determine the nominal rate compounded quarterly.
Select one:
O a. 11.24%
O b. 12.32%
O c. 10.67%
O d. 9.11%

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