$400 owed in 4 years at 7% interest per annum and $500 owed in 6 years at nominal 4% quarterly will be paid off at the beginning of year 5.

If money is worth 1% nominal compounded semi-annually, how much is paid?

Question

$400 owed in 4 years at 7% interest per annum and $500 owed in 6 years at nominal 4% quarterly will be paid off at the beginning of year 5.

If money is worth 1% nominal compounded semi-annually, how much is paid?

anonymous · Answer

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