an asphalt road requires no repair for three years but starting on the 3rd year P94,745 will be needed for repairs and the same amount at the end of each succeeding year for the next 5 years, then 10,254 at the end of each month for the next 2 years. if money is worth 15.254% compounded annually, how much is the total present cost of the repair? a. 389,414.777 b. 336,498.265 c. 402,258.
an asphalt road requires no repair for three years but starting on the 3rd year P94,745 will be needed for repairs and the same amount at the end of each succeeding year for the next 5 years, then 10,254 at the end of each month for the next 2 years. if money is worth 15.254% compounded annually, how much is the total present cost of the repair? a. 389,414.777 b. 336,498.265 c. 402,258.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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an asphalt road requires no repair for three years but starting on the 3rd year P94,745 will be needed for repairs and the same amount at the end of each succeeding year for the next 5 years, then 10,254 at the end of each month for the next 2 years. if money is worth 15.254% compounded annually, how much is the total present cost of the repair?
a. 389,414.777
b. 336,498.265
c. 402,258.312
d. 298,326.671
help pls
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