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What is the equivalent cash price of the lot

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Question - Benny paid P250,000.00 as a down payment for a vacant lot and agreed to pay P31,000.00 at the end of every six months for eight and a half years to complete the purchase of the lot. If money is worth 15% compounded semiannually, what is the equivalent cash price of the lot? Compute also for the future value.

Reference no: EM133095046

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