A contract can be fulfilled by making an immediate payment of $21,100 or equal payments at the end of every six months for 9 years. What is the size of the semi-annually payments at 10.6% compounded semi-annually? Question content area bottom Part 1 The payment is $enter your response here. (Round the final answer to the nearest cent as needed.
A contract can be fulfilled by making an immediate payment of $21,100 or equal payments at the end of every six months for 9 years. What is the size of the semi-annually payments at 10.6% compounded semi-annually? Question content area bottom Part 1 The payment is $enter your response here. (Round the final answer to the nearest cent as needed.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 41P
Related questions
Question
A contract can be fulfilled by making an immediate payment of
$21,100
or equal payments at the end of
every
six months
for
9
years. What is the size of the
semi-annually
payments at
10.6%
compounded semi-annually?Question content area bottom
Part 1
The payment is
$enter your response here.
(Round the final answer to the nearest cent as needed.
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