A financial contract offers to pay 2,400 per month for 4 years with the first payment made

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A financial contract offers to pay 2,400 per month for 4 years with the first payment made immediately. Assuming an annual discount rate of 5.5%, compounded monthly the present value of the contract is closest to:

A. E61,330.

B. E63,731.

C. 103670 euros.

Related Book For answer-question

Financial Accounting with IFRS Fold Out Primer

ISBN: 978-0077413804

5th edition

Authors: John Wild

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Posted Date: Nov 21, 2022 06:20 AM

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A financial contract offers to pay 2,400 per month for 4 years with the first payment made

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Financial Accounting with IFRS Fold Out Primer

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