Mr. Cruz wanted to buy a house and lot worth P5M ten years from now so he decided to invest his money. How much should Mr. Cruz invest if it will earn an interest of 8% compounded monthly during the...

Mr. Cruz wanted to buy a house and lot worth P5M ten years from now so he decided to invest his money. How much should Mr. Cruz invest if it will earn an interest of 8% compounded monthly during the first 3 years, compounded quarterly for the next 4 years and compounded annually during the last 3 years?


Create a cash flow diagram and show a complete solution.