Answered: A owns a promissory note, due in 2…

A owns a promissory note, due in 2 years hence, whose maturity value is 7,500 php. If the rate of interest is 11.5% compounded bimonthly, what is the value of this note now?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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A owns a promissory note, due in 2 years hence, whose maturity value is 7,500 php. If the rate of interest is 11.5% compounded bimonthly, what is the value of this note now?

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