What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 8 years and a quarterly payments $2,000 of the next 5 years if the interest rate is 8% compounded bimonthly?
What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 8 years and a quarterly payments $2,000 of the next 5 years if the interest rate is 8% compounded bimonthly?
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:What is the present equivalent of a uniform series of
quarterly payments of $4,500 each for 8 years and a
quarterly payments $2,000 of the next 5 years if the
interest rate is 8% compounded bimonthly?
Round your answer to 2 decimal places.
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