An agreement stipulates payments of $4300, $2800, and $5300 in two, four, and six months, respectively, from today. What is the highest price an investor will offer today to purchase the agreement if he requires a minimum rate of return of 3.40% ? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Maximum price

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An agreement stipulates payments of $4300, $2800, and $5300 in two, four, and six months, respectively, from today. What is the
highest price an investor will offer today to purchase the agreement if he requires a minimum rate of return of 3.40% ? (Do not round
intermediate calculations and round your final answer to 2 decimal places.)
Maximum price
Transcribed Image Text:An agreement stipulates payments of $4300, $2800, and $5300 in two, four, and six months, respectively, from today. What is the highest price an investor will offer today to purchase the agreement if he requires a minimum rate of return of 3.40% ? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Maximum price
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