You have been awarded a Pinder Foundation scholarship to help cover your living costs while studying at the University of Melbourne. The scholarship offers a regular payment of $1,000 per month for three years with the first payment occurring in one and a half months' time. If the relevant discount rate is 9% p.a. compounding monthly, the present value of the scholarship today is closest to: O $32,789 O $31,330 O $42,474 Need more information to answer the question $31,446

You have been awarded a Pinder Foundation scholarship to help cover your living costs while studying at the University of Melbourne. The scholarship offers a regular payment of $1,000 per month for three years with the first payment occurring in one and a half months' time. If the relevant discount rate is 9% p.a. compounding monthly, the present value of the scholarship today is closest to: O $32,789 O $31,330 O $42,474 Need more information to answer the question $31,446

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 22P

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