rish receives $450 on the first of each month. Josh receives $450 on the last day of each month. Both Trish and Josh will receive payments for next four years. At a discount rate of 9.5 percent, what is the difference in the present value of these two sets of payments? Select one: a. $151.06 b. $141.80 c. $162.50 d. $159.08 e. $154.30
rish receives $450 on the first of each month. Josh receives $450 on the last day of each month. Both Trish and Josh will receive payments for next four years. At a discount rate of 9.5 percent, what is the difference in the present value of these two sets of payments? Select one: a. $151.06 b. $141.80 c. $162.50 d. $159.08 e. $154.30
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 23PROB
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Trish receives $450 on the first of each month. Josh receives $450 on the last day of each month. Both
Trish and Josh will receive payments for next four years. At a discount rate of 9.5 percent, what is the
difference in the present value of these two sets of payments?
Select one:
a. $151.06
b. $141.80
c. $162.50
d. $159.08
e. $154.30
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