On his 6" birthday a boy is left an inheritance. The inheritance will be paid in a lump sum of P 10,000 on his 21" birthday. What is the present value of the inheritance as of the boy's 6" birthday, if the interest is compounded annually? Assume i=4%?
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On his 6" birthday a boy is left an inheritance. The inheritance will be paid in a lump sum of P 10,000 on his 21" birthday. What is the present value of the inheritance as of the boy's 6" birthday, if the interest is compounded annually? Assume i=4%?
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