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XYZ Inc. plans to construct an additional building at the end of 10 years at an estimated cost of P5,000,000. To accumulate this amount it
XYZ Inc. plans to construct an additional building at the end of 10 years at an estimated cost of P5,000,000. To accumulate this amount it will deposit equal year-end amounts in a fund earning 13%. However, at the end of the 5th year it decided to have a larger building estimated to cost P8,000,000. What should be the annual deposit for the last 5 years?
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