You are to receive $ 400,000 exactly 5 years from now. You do not want to wait for the money and contact JT Goneworth so that they can "Show you the money" today. JT Goneworth requires 6 % interest (annual) on this type of loan. How much with JT Goneworth pay you TODAY for this claim on the money to be received 5 years from now? ______
You are to receive $ 400,000 exactly 5 years from now. You do not want to wait for the money and contact JT Goneworth so that they can "Show you the money" today. JT Goneworth requires 6 % interest (annual) on this type of loan. How much with JT Goneworth pay you TODAY for this claim on the money to be received 5 years from now? ______
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 7CE
Related questions
Question
You are to receive $ 400,000 exactly 5
years from now. You do not want to
wait for the money and contact JT
Goneworth so that they can "Show you
the money" today. JT Goneworth
requires 6 % interest (annual) on this
type of loan. How much with JT
Goneworth pay you TODAY for this
claim on the money to be received 5
years from now?
______
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