Your grandmother is gifting you GH¢ 100 a month for four years while you attend University to earn your Bachelor's degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college? #randomized O A. GH¢ 4,201.16 B. GH¢ 4,299.88 OC. GH¢ 4,509.19 D. GH¢ 4,608.87

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter13: Investment Fundamentals
Section: Chapter Questions
Problem 3DTM
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Your grandmother is
gifting you GH¢ 100 a
month for four years
while you attend
University to earn your
Bachelor's degree. At a
5.5 percent discount rate,
what are these payments
worth to you on the day
you enter college?
#randomized
O A. GH¢ 4,201.16
O B. GH¢ 4,299.88
O C. GH¢ 4,509.19
O D. GH¢ 4,608.87
Transcribed Image Text:Your grandmother is gifting you GH¢ 100 a month for four years while you attend University to earn your Bachelor's degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college? #randomized O A. GH¢ 4,201.16 O B. GH¢ 4,299.88 O C. GH¢ 4,509.19 O D. GH¢ 4,608.87
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