Question
A debt of $3000 due in one year is to be repaid by a payment of $1000 due two years from now and a final
A debt of $3000 due in one year is to be repaid by a payment of $1000 due two years from now and a final payment three years from now. If the interest is at the rate of 5% compounded semiannually, then the final payment is (two decimal places)
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Principles of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter, Wajeeh Elali, Amer Al Roubaix
Arab World Edition
1408271583, 978-1408271582
