You are promised $8,000 in 3 years. If you estimate that you can obtain a nominal interest

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You are promised $8,000 in 3 years. If you estimate that you can obtain a nominal interest rate of 6% (capitalized monthly) for the next 8 semesters, for what amount are you willing to exchange this promise?

Related Book For answer-question

Fundamentals of Financial Management

ISBN: 978-1337395250

15th edition

Authors: Eugene F. Brigham, Joel F. Houston

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Posted Date: Apr 29, 2024 06:29 AM

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You are promised $8,000 in 3 years. If you estimate that you can obtain a nominal interest

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To find out the present value of the promised amount we can use the formula for th... View the full answer

Fundamentals of Financial Management

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