Question
security pays $500 each year for 15 years with the first payment at the end of the year. You estimate the required return to be
security pays $500 each year for 15 years with the first payment at the end of the year. You estimate the required return to be 8% pa. How much should you pay for the security?
[Give your answer to the nearest dollar.]
O A. $3,861
- B. $4,280
- C. $2,873
- D. $2,244
- E. None of the other answers are correct.
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University Finances Accounting And Budgeting Principles For Higher Education
Authors: Dean O. Smith
1st Edition
1421427257, 978-1421427256
