greg owes two debt payments - a payment of $5328 that was due in 11 months ago and a payment of $1810 due in 7 months. If greg makes a payment now, what would this payment be if money is worth 6.08% compounded semi- annually? Assume a focal date of today. Please express your answer to the nearest dollar.
greg owes two debt payments - a payment of $5328 that was due in 11 months ago and a payment of $1810 due in 7 months. If greg makes a payment now, what would this payment be if money is worth 6.08% compounded semi- annually? Assume a focal date of today. Please express your answer to the nearest dollar.
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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Transcribed Image Text:greg owes two debt payments - a
payment of $5328 that was due in 11
months ago and a payment of $1810 due
in 7 months. If greg makes a payment
now, what would this payment be if
money is worth 6.08% compounded
semi- annually? Assume a focal date of
today. Please express your answer to the
nearest dollar.
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