Suppose you will receive $16,000 in 9 months and another $12,000 in 24 months. If the discount rate is 7% per annum (compounding monthly) for the first 12 months, and 14% per annum (compounding monthly) for the next 12 months, what single amount received today would be equal to the two proposed payments? (answer to the nearest whole dollar; don’t include the $ sign or commas)

Answer rating: 100% (QA)

The single amount received today should be equal to the present value of th... View the full answer