Question
A sum of money invested now at 10 percent compounded semi annually is to provide payments of 1500 dollars every 6 months for 8 years,
A sum of money invested now at 10 percent compounded semi annually is to provide payments of 1500 dollars every 6 months for 8 years, with the first payment due 6 months from now.
a) How much money should be invested?
b) How much money will the investment earn?
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International Financial Management
Authors: Jeff Madura
3rd Edition
0314862722, 978-0314862723
