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TOPIC: ANNUITY A person buys a piece of lot for Php 131861 down payment and 10 deferred semi-annual payments of P 5,000 each, starting 6

TOPIC: ANNUITY

A person buys a piece of lot for Php 131861 down payment and 10 deferred semi-annual payments of P 5,000 each, starting 6 years from now. What is the present value of the investment if the rate of interest is 13% per year compounded quarterly? Round off the interest rate to five decimal places. Round your answer to 2 decimal places.

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