if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly, how much annuity can a person get annually one year after the last deposit for the next 6 years? a. 36,975.321 b. 68.054.972 c. 48.036.981 d. 57,415.409

if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly, how much annuity can a person get annually one year after the last deposit for the next 6 years? a. 36,975.321 b. 68.054.972 c. 48.036.981 d. 57,415.409

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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Question

if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly, how much annuity can a person get annually one year after the last deposit for the next 6 years?

a. 36,975.321

b. 68.054.972

c. 48.036.981

d. 57,415.409

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