Question
Takeshi has inherited $3 million which he will receive as 35 equal annual payments P with the first payment in one year's time. The effective
Takeshi has inherited $3 million which he will receive as 35 equal annual payments P with the first payment in one year's time. The effective annual rate is r. Which of the following pairs is correct? (To the nearest $1.)
a) r = 2%, P = $120007
b) r = 2%, P = $117654
c) r = 2%, P = $120207
d) r =3%, P = $117654
e) r =3%, P = $120007
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Handbook Of Digital Currency Bitcoin Innovation Financial Instruments And Big Data
Authors: David Lee Kuo Chuen
1st Edition
0128021179, 978-0128021170
