At the beginning of her current tax year, Angela purchased a zero-coupon corporate bond at original issue for $46,000 with a yie
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Answer:
$466,680.
Explanation:
The annual interest rate is 6.04%. It is compounded anually.
The number of periods is 2*4.5=9 semesters.
The interest rate per period is i=0.0604/2=0.0302.
The annuity factor is:
Then, the capital that is needed to be invested now to get $60,000 for 4.5 years is: