Question
A friend wants to borrow money from you. He states that he will pay you $2,800 every 6 months for 10 years with the first
A friend wants to borrow money from you. He states that he will pay you $2,800 every 6 months for 10 years with the first payment exactly 6 years and six months from today. The interest rate is an APR of 5.1 percent with semiannual compounding. What is the value of the payments today?
rev: 12_21_2017_QC_CS-112624, 10_18_2019_QC_CS-186872, 12_04_2019_QC_CS-192630
Multiple Choice
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$32,114.70
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$32,234.10
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$31,316.14
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$30,130.91
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$33,185.19
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Enhancing Financial Inclusion Through Islamic Finance Volume II
Authors: Abdelrahman Elzahi Saaid Ali , Khalifa Mohamed Ali , Mohamed Hassan Azrag
1st Edition
3030399389,3030399397
