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NO EXCEL, NO EXCEL You have just won a very special prize, a "consol" bond that...

NO EXCEL, NO EXCEL

You have just won a very special prize, a "consol" bond that pays $70,000 every six months (semi-annual payment) forever. The only caveat is that the first payments is given 6.5 years from now. You are not that enthusiastic about waiting that long. In fact, you really want to simply receive 19 quarterly payments with the first payment starting one quarter from now. If the APR is 12% compounded monthly, what is the quarterly payment amount you want to receive instead?

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Solution : The State o year lpes aun C ). ...-12.ソ com.ooeud o d mout 4 1.12 (It»).プーヒ0134 e. he Peseut Value of 12411342 1241342 2. 00600l The Quatesly paymeuts (us) IL: 8541

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