A wealthy business man promises to donate $6,694.00 to charity every quarter for 10 years (at the
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A wealthy business man promises to donate $6,694.00 to charity every quarter for 10 years (at the start of every period). The current interest rate is 8.370% compounded semi-annually, but it is projected to change to 9.310% (still compounded semi-annually) after 6 years. What is the present value of the donation based on this projection?
a. None of the other answers is correct
b. X = $165,476.03.
c. X = $167,274.68.
d. X = $183,462.55.
e. X = $179,865.25.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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