Question
A contractual arrangement requires payments of $15,000 on 7 October 2019 and $9,000 on 7 October 2028.What is an equivalent single amount payable on 7
A contractual arrangement requires payments of $15,000 on 7 October 2019 and $9,000 on 7 October 2028.What is an equivalent single amount payable on 7 October 2026 at an interest rate of 4% p.a. compounding quarterly?
a. $19,819.36
b. $25,988.56
c. $29,882.28
d.$28,130.71
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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
