A contract requires Evan to pay $6,400 in 24 gears from now. How much should his creditor

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A contract requires Evan to pay $6,400 in 24 gears from now. How much should his creditor be willing to accept today in settlement of this debt if money is worth

a. 1.2% compounded monthly?

b. 5.4% compounded monthly?

c. 9.6% compounded monthly?

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 05:47 AM

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A contract requires Evan to pay $6,400 in 24 gears from now. How much should his creditor

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Fundamentals Of Business Mathematics In Canada

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