Problem #7: A financier has made a loan of $10 million. The contract for the loan calls for payment of interest quarterly at a nominal annual rate of 8.8%, until the full principal is repaid in one lump sum at the end of 8 years. After 3 years have gone by, immediately after the quarterly payment, the financier decides to sell the asset to an investor. If the investor values these cash flows with a nominal annual rate of 6% when compounded quarterly, what value would the investor consider the remaining loan contract to be worth? Problem #7: Answer in millions of dollars, correct to 3 decimals. Just Save Submit Problem #7 for Grading Attempt #1 Attempt #2 Attempt #3 Attempt #4 Attempt #5 Problem #7 Your Answer: Your Mark