Use up to 6 decimal places during solving for the answer. Write all numerical final answers round off up to TWO (2) decimal places. 1. If I invest 32.195 today and expect a reimbursement every end of 6th month with a ROR of 0.13 compounded semi-annually for 3 years. How much will ! expect to receive every June and December of every year.
Use up to 6 decimal places during solving for the answer. Write all numerical final answers round off up to TWO (2) decimal places. 1. If I invest 32.195 today and expect a reimbursement every end of 6th month with a ROR of 0.13 compounded semi-annually for 3 years. How much will ! expect to receive every June and December of every year.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Use up to 6 decimal places during solving for the answer.
Write all numerical final answers round off up to TWO (2) decimal places.
1. If I invest 32.195 today and expect a reimbursement every end of 6th month with a ROR of 0.13 compounded semi-annually for 3 years. How much will ! expect to receive every June and December of every year.
Expert Solution
Step 1
Data given:
Amount=32,195
ROR= 0.13 (compounded semi-annually)
N=3 years
Working Note #1
ROR (compounded semiannually) = 0.13/2= 0.065
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education