Question
A friend wants to borrow money from you. He states that he will pay you $3,200 every 6 months for 7 years with the first
A friend wants to borrow money from you. He states that he will pay you $3,200 every 6 months for 7 years with the first payment exactly 5 years and six months from today. The interest rate is 5.5 percent compounded semiannually. What is the value of the payments today?
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Financial Analysis With Microsoft Excel
Authors: Timothy R. Mayes
9th Edition
0357442059, 9780357442050
