Question
You open an investment account that pays 12% APR, compounded monthly. Compute the present value of 10 monthly payments of $5000 (the first payment made
You open an investment account that pays 12% APR, compounded monthly. Compute the present value of 10 monthly payments of $5000 (the first payment made 1 month from today).
a. $44,960.11
b. $42,966.01
c. $50,000.00
d. $39,287.28
e. $44,816.66
f. $45,409.71
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Finance Applications and Theory
Authors: Marcia Cornett
4th edition
1259691411, 978-1259691416
