You want to buy a bonus that will have a redemption value of $ 20,000. The bonus
Fantastic news! We've Found the answer you've been seeking!
Question:
You want to buy a bonus that will have a redemption value of $ 20,000. The bonus pays 6% per year paid twice a year. The bonus is redeemable in 15 years. If you want to earn 12% compound annual interest per month, how much would you be willing to pay for the bonus today?
Related Book For
Fundamentals of Financial Management
ISBN: 978-0324664553
Concise 6th Edition
Authors: Eugene F. Brigham, Joel F. Houston
Posted Date: