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A friend wants to borrow money from you. He states that he will pay you $4,000 every 6 months for 8 years with the
A friend wants to borrow money from you. He states that he will pay you $4,000 every 6 months for 8 years with the first payment exactly 3 years and six months from today. The interest rate is an APR of 6.3 percent with semiannual compounding. What is the value of the payments today?
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
