Question
6. Mr. Harry borrows $5000 today, due with interest at j4 = 8% in one lump sum at the end of 2 years. Instead, Mr.
6. Mr. Harry borrows $5000 today, due with interest at j4 = 8% in one lump sum at the end of 2 years. Instead, Mr. Harry wishes to pay $2000 six months from today and $X in 18 months. If money is worth j12 = 6%, what is X?
Answer: $3562.23
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Essentials Of Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Al Arens
1st Edition
0130463035, 9780130463036
