An agreement stipulates payments of $4500, $3000, and $5500 in 4, 8, and 12 months, respectively, from

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An agreement stipulates payments of $4500, $3000, and $5500 in 4, 8, and 12 months, respectively, from today. What is the highest price an investor will offer today to purchase the agreement if he requires a minimum rate of return of 10.5%?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:13 AM

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An agreement stipulates payments of $4500, $3000, and $5500 in 4, 8, and 12 months, respectively, from

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Business Mathematics In Canada

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