A store manager plans to exchange his old computer at the end of four years for a newer one worth P150,000. The trade in value of the old computer at that time is estimated to be P4,000. If money can be invested at 12% compounded quarterly, how much must the manager invest at the end of each quarter in order to make the exchange?

A store manager plans to exchange his old computer at the end of four years for a newer one worth P150,000. The trade in value of the old computer at that time is estimated to be P4,000. If money can be invested at 12% compounded quarterly, how much must the manager invest at the end of each quarter in order to make the exchange?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 16P

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