Question
A prize pays $15,000 each quarter for 6 years (24 payments)commencing in exactly 6 months' time. If the appropriate discount rate is 10.3% p.a compounding
A prize pays $15,000 each quarter for 6 years (24 payments)commencing in exactly 6 months' time. If the appropriate discount rate is 10.3% p.a compounding quarterly, the value of the prize today is :
[HINT: the annuity is deferred]
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Small Business Management Launching and Growing New Ventures
Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy
6th Canadian edition
176532218, 978-0176532215
