Question
A financial instrument pays $100,000 at the end of each of the next two years. The APR is 8%. In the first year the interest
A financial instrument pays $100,000 at the end of each of the next two years. The APR is 8%. In the first year the interest rate is compounded annually. In the second year the interest rate is compounded semi-annually. What is the present value of the financial instrument?
|
| $177,933.01 |
|
| $178,069.98 |
|
| $178,199.65 |
|
| $179,234.13 |
|
| None of the above. |
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Cases In Healthcare Finance
Authors: Louis C. Gapenski
3rd Edition
1567932444, 9781567932447
