Emerson developed a new style of camping trailer. He is considering a licensing agreement with Easy-Tow, who

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Emerson developed a new style of camping trailer. He is considering a licensing agreement with Easy-Tow, who will manufacture the new trailer. They are propos- ing to pay him $30 000 now, and $15 000 at the beginning of each of the 12 years of the licensing agreement, starting in 2 years. If interest is 6.55% compounded semi- annually, what is the agreement worth today?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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