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Suppose in Problem 2.21 that you have a large mortgage you want to pay off now. You propos

Suppose in Problem 2.21 that you have a large mortgage you want to pay off now. You propose an alternative, but equivalent, payment scheme. You would like $300 000 today, and the balance of the prize in five years when you intend to purchase a large piece of waterfront property. How much will the payment be in five years? Assume that annual interest is 10%, compounded monthly.

Nov 27 2019 Read more Less More

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