ou have invested 7 million dollars for a horizon of 24 months. You will be paid interest at 7.80% per annum, with semi-annual compounding. How much will you receive at the end (after 24 months)?     $9.453 million     $8.178 million     $8.158 million     $8.092 million

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
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ou have invested 7 million dollars for a horizon of 24 months. You will be paid interest at 7.80% per annum, with semi-annual compounding. How much will you receive at the end (after 24 months)?

   

$9.453 million

   

$8.178 million

   

$8.158 million

   

$8.092 million

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