Essay
Two payments of $2,000 each are to be received six and twelve months from now. If money is worth 10%, what is the total equivalent value of the payments:
a) Today?
b) Six months from today?
c) Explain why the answer in part (b) is larger.
Correct Answer:
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a) $3,722.94; b) $3,904.76; c)...View Answer
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Correct Answer:
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