In buying a farm worth P 1,500,000 cash, the purchaser pays P 500,000 cash and agrees to pay the balance including interest at x % compounded semi - annually, by a sequence of 8 equal semiannual payments of P178,118.98, the first due at the end of 4 years. Find x. Select one: O a.6.3 O b.72 O c.55

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
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In buying a fam worth P1500,000 cash, the purchaser pays P 500,000 cash and agrees to pay
the balance including interest at x % compounded semi - annually, by a sequence of 8 equal
semiannual payments of P178,118.98, the first due at the end of 4 years. Find x.
Select one:
a. 6.3
Ob.72
Oc 5.5
Transcribed Image Text:In buying a fam worth P1500,000 cash, the purchaser pays P 500,000 cash and agrees to pay the balance including interest at x % compounded semi - annually, by a sequence of 8 equal semiannual payments of P178,118.98, the first due at the end of 4 years. Find x. Select one: a. 6.3 Ob.72 Oc 5.5
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