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You are promised $8,000 in 3 years. If you estimate that you can obtain a nominal interest rate of 6% (capitalized monthly) for the next
You are promised $8,000 in 3 years. If you estimate that you can obtain a nominal interest rate of 6% (capitalized monthly) for the next 8 semesters, for what amount are you willing to exchange this promise?
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To find out the present value of the promised amount we can use the formula for th...
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
15th edition
1337671002, 978-1337395250
