Rounded to the nearest month, how long before a scheduled payment of $10,000 would a payment of

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Rounded to the nearest month, how long before a scheduled payment of $10,000 would a payment of $5000 be an economically equivalent alternative? Assume money is worth 5% compounded annually.

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:32 AM

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Rounded to the nearest month, how long before a scheduled payment of $10,000 would a payment of

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Given PV 5000 FV 10000 j 5 m 1 Since each compounding period is 1 year 142...View the full answer

Business Mathematics In Canada

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