How much will an investor pay for the loan contract

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A loan contract will provide Lixin with payments of $4700 at the end of every six months. The contract has six years to run. Lixin wants to sell the contract.

Problem 1: How much will an investor pay for this loan contract if she wants to "build in" a rate of return of 8.7% compounded monthly? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM132918588

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