Rashmi has the option of settling a debt by paying $5230 today, or waiting exactly 5 months
Question:
Rashmi has the option of settling a debt by paying $5230 today, or waiting exactly 5 months and paying $5500.
a. If her money can earn 8.2% per annum, which option should she choose?
b. If her money can earn 13.5% per annum, which option should she choose?
c. At what rate per annum would she be indifferent between the two alternatives?
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Step by Step Answer:
a If she waits to pay the 5500 in 5 months from now ...View the full answer
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