What is the present value of 63 annual payments of $1,075 each with the first payment being received immediately? Assume you can invest money at a 10% stated rate with semi-annual compounding. The stated answer is 11,538.08. I would like to know step by step.
What is the present value of 63 annual payments of $1,075 each with the first payment being received
immediately? Assume you can invest money at a 10% stated rate with semi-annual compounding. The stated answer is 11,538.08. I would like to know step by step.
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