Question
Bank offers a financial security pays the holder $1,065 per month. What is the present value of the security if the next payment is one
Bank offers a financial security pays the holder $1,065 per month. What is the present value of the security if the next payment is one month from today, there are 85 payments remaining, and the relevant interest rate is 9% APR compounded monthly?
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Management Of Islamic Finance
Authors: M. Kabir Hassan, Mamunur Rashid
1st Edition
1787564045, 978-1787564046
