Payments of $50,000 due in 200 days and $60,000 due in 600 days are to be replaced by payments of $75,000 today and the balance in 400 days. If money earns 8% compounded daily, calculate the value of the balance payment in 400 days.

Payments of $50,000 due in 200 days and $60,000 due in 600 days are to be replaced by payments of $75,000 today and the balance in 400 days. If money earns 8% compounded daily, calculate the value of the balance payment in 400 days.

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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