A corporation will make the following disbursements: a. Php 50, 000 on December 31, 1991 b. Php 100,000 on December 31, 1992 c. Php 200,000 one December 31, 1993 To accumulate these sums, an ordinary annuity is established by making equal year-end deposits starting December 31, 1986 up to the end of 1993. If the fund earns 9% interest compounded annually, what is the required amount of the annual deposit?
A corporation will make the following disbursements: a. Php 50, 000 on December 31, 1991 b. Php 100,000 on December 31, 1992 c. Php 200,000 one December 31, 1993 To accumulate these sums, an ordinary annuity is established by making equal year-end deposits starting December 31, 1986 up to the end of 1993. If the fund earns 9% interest compounded annually, what is the required amount of the annual deposit?
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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A corporation will make the following disbursements:
a. Php 50, 000 on December 31, 1991
b. Php 100,000 on December 31, 1992
c. Php 200,000 one December 31, 1993
To accumulate these sums, an ordinary annuity is established by making equal year-end deposits starting December 31, 1986 up to the end of 1993. If the fund earns 9% interest compounded annually, what is the required amount of the annual deposit?
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