A charity organization will donate for the education of indigent students. The donation will be spent...
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A charity organization will donate for the education of indigent students. The donation will be spent as follows: P1260154 annually for each of the 1st five years: P2440221 annually for each of the next five years; and P3388889 annually thereafter. The funding will begin one year after the organization is established. If the money earns 20% cpd. quarterly, what is the amount of the donation? A charity organization will donate for the education of indigent students. The donation will be spent as follows: P1260154 annually for each of the 1st five years: P2440221 annually for each of the next five years; and P3388889 annually thereafter. The funding will begin one year after the organization is established. If the money earns 20% cpd. quarterly, what is the amount of the donation?
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Answer rating: 100% (QA)
To calculate the amount of the donation we need to calculate the present value of the future cash fl... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Posted Date:
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