Question
An agreement stipulates payments of $4700, $3000, and $5300 in 4, 8, and 12 months, respectively, from today. What is the highest price an investor
An agreement stipulates payments of $4700, $3000, and $5300 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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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
5th edition
1111527369, 978-1111527365
