Suppose you have agreed to lend your roommate a certain amount of money today. Your roommate has
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Question:
Suppose you have agreed to lend your roommate a certain amount of money today. Your roommate has promised to pay you back $5,000 two years from today and $7,000 four years from today. Assume the price of money is 5%, how much money will your roommate receive from you today?
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Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
Posted Date: