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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Calculus Early Transcendentals
Authors: James Stewart
8th edition
1285741552, 9781305482463 , 978-1285741550
