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Suppose that you are offered a job which pays £3000 at the end of each month for the next five years. The nominal rate of interest compounded monthly is 2.5%. What is the present value of the money paid by the job to the nearest pound? Do not enter the pound sign. For example, if your answer is £3000, then enter 3000,

Suppose that you are offered a job which pays £3000 at the end of each month for the next five years. The nominal rate of interest compounded monthly is 2.5%. What is the present value of the money paid by the job to the nearest pound? Do not enter the pound sign. For example, if your answer is £3000, then enter 3000,

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Suppose that you are offered a job which pays £3000 at the end of each month for the next five years. The nominal rate of interest compounded monthly is 2.5%. What is the present value of the money paid by the job to the nearest pound? Do not enter the pound sign. For example, if your answer is £3000, then enter 3000. Answer:
Transcribed Image Text:Suppose that you are offered a job which pays £3000 at the end of each month for the next five years. The nominal rate of interest compounded monthly is 2.5%. What is the present value of the money paid by the job to the nearest pound? Do not enter the pound sign. For example, if your answer is £3000, then enter 3000. Answer:
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