Question
A contract is valued at $28 000 and it requires payments of $6500 every 6 months. The first paymentis due in 5 years and interest
A contract is valued at $28 000 and it requires payments of $6500 every 6 months. The first paymentis due in 5 years and interest is 12% compounded semi-annually.
a) How many payments are required?
b) What is the size of the last payment?
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Introduces Quantitative Finance
Authors: Paul Wilmott
2nd edition
470319585, 470319581, 978-0470319581
