Question #38522
1. What is the value of a $5,200 debt incurred two years ago if money is worth 13.5%, compounded semi-annually?
Expert's answer
Answer on Question#38522 - Math - Other
What is the value of a $5,200 debt incurred two years ago if money is worth 13.5%, compounded semi-annually?
Solution:
Value of the debt = 5200(1 + 0.135)⁴ = 8629.52
Answer.
Value of the debt: $8629.52
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