You are contributing money to an investment account so that you can purchase a small piece of agricultural land in 5 years. You plan to contribute 6 payments of P30,000 a year. The first payment will be made today and the final payment will be made 5 years from now. If you earn 11% in your investment account, how much money will you have in the account 5 years from now? O P194,120 P208,560 P216,830 P237,390 P263,500

You are contributing money to an investment account so that you can purchase a small piece of agricultural land in 5 years. You plan to contribute 6 payments of P30,000 a year. The first payment will be made today and the final payment will be made 5 years from now. If you earn 11% in your investment account, how much money will you have in the account 5 years from now? O P194,120 P208,560 P216,830 P237,390 P263,500

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 22P

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