In return for payment of $5000 at the end of 4 years and #8500 at the end of 9 years, a man agrees to pay $1000 at once and $3000 at the end of 6 years and two equal payments at the end of 8 years and 10 years, respectively. Find how much each payment is if money is worth 18% compounded semi- annually.

In return for payment of $5000 at the end of 4 years and #8500 at the end of 9 years, a man agrees to pay $1000 at once and $3000 at the end of 6 years and two equal payments at the end of 8 years and 10 years, respectively. Find how much each payment is if money is worth 18% compounded semi- annually.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 23P

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