Greg owes two debt payments – a payment of $5316 that was due in 13 months ago and a payment of $1553 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.88% compounded semi-annually? Assume a focal date of today.
Greg owes two debt payments – a payment of $5316 that was due in 13 months ago and a payment of $1553 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.88% compounded semi-annually? Assume a focal date of today.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 1PROB
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Greg owes two debt payments – a payment of $5316 that was due in 13 months ago and a payment of $1553 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.88% compounded semi-annually? Assume a focal date of today.
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