Your rich aunt has promised to give your $4600 in 5 years. How much should you be willing to receive today (in lieu of the $4600 in 5 years) if you can earn 8% per annum, compounded semi-annually?
Your rich aunt has promised to give your $4600 in 5 years. How much should you be willing to receive today (in lieu of the $4600 in 5 years) if you can earn 8% per annum, compounded semi-annually?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Your rich aunt has promised to give your $4600 in 5 years. How much should you be willing to receive today (in lieu of the $4600 in 5 years) if you can earn 8% per annum, compounded semi-annually? (Round to nearest penny, e.g. 1234.56
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