Question
If you owe $36,000 payable at the end of four years, what amount should your creditor accept in payment immediately if she could earn 9
If you owe $36,000 payable at the end of four years, what amount should your creditor accept in payment immediately if she could earn 9 percent on her money? Use Appendix B for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
5th Edition
0078034663, 978-0078034664
