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In 5 years, PHP 1.8 M will be needed to pay for the building renovation. In order to generate this sum, a sinking fund consisting

In 5 years, PHP 1.8 M will be needed to pay for the building renovation. In order to generate this sum, a sinking fund consisting of three annual payments is established now. For tax purposes, no further payments will be made after 3 years. What payment are necessary if money is worth 15% per annum.

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