Kathy's rich uncle promises her $1,000 per month, starting today, with a final payment to be made 6 months from today. If the interest rate is 0.50 percent per month, what is the present value of the cash flows?
Kathy's rich uncle promises her $1,000 per month, starting today, with a final payment to be made 6 months from today. If the interest rate is 0.50 percent per month, what is the present value of the cash flows?
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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