Question: 3 5 . In 5 years, P 1 . 8 M will be needed to pay for the building renovation. In order to generate this

35. In 5 years, P1.8 M will be needed to pay for the building renovation. In order to generate this sum, a fund consisting of three annual payments is established this year. For tax purposes, no further payments will be made after 3 years. What payment are necessary if money is worth 15% per annum?

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