a. Ten payments of $ 3,000, are due at annual intervals beginning June 30, next...
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Accounting
a. Ten payments of $ 3,000, are due at annual intervals beginning June 30, next year. What amount will be accepted in cancellation of this series of payments on June 30, the current year, assuming a discount rate of 14% compounded annually?
b. Ten payments of $ 2,000 are due at annual intervals beginning at the end of year 1. What amount will be accepted in cancellation of this series of payments on at the beginning of year 1, assuming a discount rate of 12% compounded annually?
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