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You have just won a very special prize, a consol bond that pays $ 1 2 0 , 0 0 0 every six months (
You have just won a very special prize, a "consol" bond that pays $ every six months semiannual payment forever. The only caveat is that the first payments is given years from now. You are not that enthusiastic about waiting that long. In fact, you really want to simply receive quarterly payments with the first payment starting one quarter from now. If the APR is compounded monthly, what is the quarterly payment amount you want to receive instead?
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