Greg owes two debt payments – a payment of $5316 that was due in 13 months ago and a payment of $1553 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.88% compounded semi-annually? Assume a focal date of today.
Greg owes two debt payments – a payment of $5316 that was due in 13 months ago and a payment of $1553 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.88% compounded semi-annually? Assume a focal date of today.
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
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Greg owes two debt payments – a payment of $5316 that was due in 13 months ago and a payment of $1553 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.88% compounded semi-annually? Assume a focal date of today.
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