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Question 2 7 ( Estimated time allowance: 1 7 minutes ) You have just won a very special prize, a consol bond that pays $
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Estimated time allowance: minutes You have just won a very special prize, a "consol"
bond that pays $ every six months semiannual payment forever. The only caveat is
that the first payments is given years from now. You are not that enthusiastic about
waiting that long. In fact, you really want to simply receive quarterly payments with the
first payment starting one quarter from now. If the APR is compounded monthly,
what is the quarterly payment amount you want to receive instead? For your answer round
to the nearest dollar, do not enter the dollar $ sign, and do not use commas for the
thousands. For example, if you obtained $ then enter
You can use the attached excel file which includes the formulas for TVM click here
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