Читать книгу Fundamentals of Financial Instruments - Sunil K. Parameswaran - Страница 76

Alex Gunning deposited $25,000 with International Bank for four years and nine months and wants to withdraw the balance at maturity. The bank pays 8% interest per annum on a simple interest basis. The terminal value in this case is given by:

Notice that N, in this case 4.75 years, need not be an integer.