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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 108
Solve the following application problem. Use a 360-day year where applicable.
A divorce settlement requires Samantha James to pay her ex-spouse $12,000 in 2 years. What lump sum can be invested today at 5% compounded semiannually so that enough will be available for the payment? __________________
A divorce settlement requires Samantha James to pay her ex-spouse $12,000 in 2 years. What lump sum can be invested today at 5% compounded semiannually so that enough will be available for the payment? __________________
Explanation
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The following table is given, 
The inter...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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