Ted and Alice Hansel have a son who will begin college 12 years from today. School expenses

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Ted and Alice Hansel have a son who will begin college 12 years from today. School expenses of $55,000 will need to be paid at the beginning of each of the four years that their son plans to attend college. What is the duration of this liability to the couple if they can borrow and lend at the market interest rate of 5.3 percent?

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Corporate Finance

ISBN: 9781265533199

13th International Edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe

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