Question
Suppose Mr. Spock owes Mrs. Janeway three sums of money: $1000 due in 2 years, $1500 due in 5 years, and $2000 due in 8
Suppose Mr. Spock owes Mrs. Janeway three sums of money: $1000 due in 2 years, $1500 due in 5 years, and $2000 due in 8 years. Suppose he would rather pay her $2000 now and the rest in 3 years. If the interest rate is 6% compounded annually, how much will he owe in 3 years?
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Financial Management Theory And Practice
Authors: Prasanna Chandra
11th Edition
9355322208, 978-9355322203
