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17 September, 00:06

A promissory note will pay $40,000 at maturity 6 years from now. how much should you be willing to pay for the note now if money is worth 4.25% compounded continuously?

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  1. 17 September, 00:14
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    P=A/e^rt

    P=40,000:e^ (0.0425*6)

    P=30,996.66
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