Question: An annuity is payable half-yearly for six years, the first half-yearly payment of amount P90,000 being due after two years. The amount of subsequent payments

An annuity is payable half-yearly for six years, the first half-yearly payment of amount P90,000 being due after two years. The amount of subsequent payments decreases by P1, 500 every half-year. On the basis of an interest rate of 5 percentage per half-year, find the present value of the annuity

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