A man wishes his son to receive P632.147 fifteen years from now at three different interest rates. The interest rate in the first 64 months is 10.265% compounded bimonthly, 9.365% compounded quarterly for the next 57 months and 15.954% compounded monthly for the rest of the period. What amount should he invest now?

A man wishes his son to receive P632.147 fifteen years from now at three different interest rates. The interest rate in the first 64 months is 10.265% compounded bimonthly, 9.365% compounded quarterly for the next 57 months and 15.954% compounded monthly for the rest of the period. What amount should he invest now?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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