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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Question
A construction project is to be billed monthly at 4.09% for the first 17 payments, billed at 4.09% compounded quarterly for the next 17 payments and billed at 4.09% compounded semi-annually for the last 17 payments. If each payment has a value of 5,583.79 Pesos. Find the cost if the project is paid full before it starts.
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