Question
An agreement stipulates payments of $5500, $4000, and $6500 in two, four, and six months, respectively, from today. What is the highest price an investor
An agreement stipulates payments of $5500, $4000, and $6500 in two, four, and six months, respectively, from today. What is the highest price an investor will offer today to purchase the agreement if he requires a minimum rate of return of 4.00%?(Do not round intermediate calculations and round your final answer to 2 decimal places.)
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