Question
1. A financial security pays the owner $100 per month. What is the present value of the security if the next payment is one month
1.
A financial security pays the owner $100 per month. What is the present value of the security if the next payment is one month from today, there are 120 payments remaining, and the relevant interest rate is 9% APR compounded monthly?
Enter answer in dollars, rounded to the nearest dollar.
2.
A financial security pays the owner $100 per month. What is the present value of the security if the next payment is one month from today, there are 120 payments remaining, and the relevant interest rate is 9% APR compounded monthly?
Enter answer in dollars, rounded to the nearest dollar.
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