In return for payment of P5000 at the end of 4 years and P8500 at the end of 9 years, a man agrees to pay P1000 at once and P3000 at the end of 6 years and two equal payments at the end of 8 years and 10 years, respectively. Find how much each payment is if money is worth 18% compounded semi-annually.

Answer rating: 100% (QA)

To solve this problem we can use the concept of present value which is the current value of a future ... View the full answer