Question
A friend wants to borrow money from you. He states that he will pay you $3,600 every 6 months for 11 years with the first
A friend wants to borrow money from you. He states that he will pay you $3,600 every 6 months for 11 years with the first payment exactly 4 years and six months from today. The interest rate is an APR of 5.9 percent with semiannual compounding. What is the value of the payments today?
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Personal Finance For Dummies
Authors: Eric Tyson
9th Edition
1119517893, 978-1119517894
