annual payment php 2,000.00 at the end of each term for 5 years with interest rate of 7.5% compounded quarterly.find the present and the future value
Present value is the sum of money that must be invested in order to achieve a specific future goal. Future value is the dollar amount that will accrue over time when that sum is invested.
The formula for the future value of an ordinary annuity is:
The formula for the present value of an ordinary annuity is:
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