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What sum of money due on July 1, 2016 is equivalent to $9000 due on January 1, 2003 if interest rates were/are 4.8%/year compounded semi-annually
What sum of money due on July 1, 2016 is equivalent to $9000 due on January 1, 2003 if interest rates were/are 4.8%/year compounded semi-annually before January 1, 2010 and 7.0%/year compounded quarterly thereafter?
(Enter the value only; do NOT add a $ sign.)
What sum of money due on July 1, 2016 is equivalent to $9000 due on January 1, 2003 if interest rates were/are 4.8%/year compounded semi-annually before January 1, 2010 and 7.0%/year compounded quarterly thereafter? (Enter the value only; do NOT add a $ sign.)Step by Step Solution
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