Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the value of an investment that pays $17,000 every other year forever, if the first payment occurs one year from today and the

What is the value of an investment that pays $17,000 every other year forever, if the first payment occurs one year from today and the discount rate is 9 percent compounded daily? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Value today $94292.36

part b. What is the value today if the first payment occurs four years from today? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

I know the answer for part A is 94292.36 but i dont know the answer for part b.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Revealing The Invisible How Our Hidden Behaviors Are Becoming The Most Valuable Commodity Of The 21st Century

Authors: Thomas Koulopoulos ,George Achillias

1st Edition

1682616193, 978-1682616192

More Books

Students also viewed these Finance questions

Question

Takes a confident approach to leading the efforts of others.

Answered: 1 week ago