Arcon and Byrnco have both submitted bids for an equipment service contract. Their offers are: Arcon :
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Question:
Arcon and Byrnco have both submitted bids for an equipment service contract. Their offers are:
Arcon:
- $9,500 to be paid immediately
- $5,000 to be paid one year from now
- $5,000 to be paid two years from now
Byrnco:
- $10,500 to be paid one year from now
- $10,500 to be paid two years from now
Part A: If money is worth 6 % compounded semi-annually, what is the value of Arcon company's bid in today's dollars?
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