Question
QUESTION 5 Consider a series of three payments of $2,000, $3,000, and $3,500 that occur at t = 1, t = 2, and t =
QUESTION 5 Consider a series of three payments of $2,000, $3,000, and $3,500 that occur at t = 1, t = 2, and t = 4, respectively. Let the annual, annually compounded interest rate equal 5%. What is the time value of the stream at t = 5 years?
a. $9,579 b. $6,346 c. $9,975 d. $8,900
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
