A contract requires payments of $1500, $2000, and $1000 in 100, 150, and 200 days, respectively, from today. What is the value of the contract today if the payments are discounted to yield a 10.5% rate of return? (Do not round the intermediate calculations. Round your answer to the nearest cent.)
A contract requires payments of $1500, $2000, and $1000 in 100, 150, and 200 days, respectively, from today. What is the value of the contract today if the payments are discounted to yield a 10.5% rate of return? (Do not round the intermediate calculations. Round your answer to the nearest cent.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A contract requires payments of $1500, $2000, and $1000 in 100, 150, and 200 days, respectively, from today.
What is the value of the contract today if the payments are discounted to yield a 10.5% rate of return? (Do not round the intermediate calculations. Round your answer to the nearest cent.)
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this is business mathematics. the calculations should be done on a business calculator.Steps are helpful but the answer isnt correct.
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