Question
An advertised investment product promises to pay $439 per month for 51 months commencing in 1 month from today. If the investment earns 7.8% p.a
An advertised investment product promises to pay $439 per month for 51 months commencing in 1 month from today. If the investment earns 7.8% p.a compounding monthly, how much will the investment product cost today? (round to nearest cent; dont use $ sign or commas)
Select one:
a. $19004.20
b. $19127.73
c. $1538.05
d. $1658.01
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th Edition
1260772381, 978-1260772388
