What is the appropriate price to pay for a contract guaranteeing payments of $1500 at the end
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What is the appropriate price to pay for a contract guaranteeing payments of $1500 at the end of each quarter for the next 12 years? You require a rate of return of 6% compounded quarterly for the first five years, and 7% compounded quarterly for the next seven years.
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The appropriate price to pay is the present value of the payments discounted at ...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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