You are to receive $ 400,000 exactly 5 years from now. You do not want to wait for the money and contact JT Goneworth so that they can "Show you the money" today. JT Goneworth requires 6 % interest (annual) on this type of loan. How much with JT Goneworth pay you TODAY for this claim on the money to be received 5 years from now? ______
You are to receive $ 400,000 exactly 5 years from now. You do not want to wait for the money and contact JT Goneworth so that they can "Show you the money" today. JT Goneworth requires 6 % interest (annual) on this type of loan. How much with JT Goneworth pay you TODAY for this claim on the money to be received 5 years from now? ______
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
Related questions
Question
You are to receive $ 400,000 exactly 5
years from now. You do not want to
wait for the money and contact JT
Goneworth so that they can "Show you
the money" today. JT Goneworth
requires 6 % interest (annual) on this
type of loan. How much with JT
Goneworth pay you TODAY for this
claim on the money to be received 5
years from now?
______
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