The first tuition payment is worth $30,000/(1.06)1/2 $29,139. The second tuition payment is worth $30,000/(1.06)3/2
Question:
The first tuition payment is worth $30,000/(1.06)1/2 ≈ $29,139. The second tuition payment is worth
$30,000/(1.06)3/2 ≈ $27,489. Thus, the total present value is $56,628.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: