A lot (land) is sold for $8000 deposit and 6 half-yearly payments of $3000

| April 14, 2018

A lot (land) is sold for $8000 deposit and 6 half-yearly payments of $3000, the first payment is due at the end of 2 years [i.e. on year 2]. Find the cash value of the lot if money is worth 16% p.a. compounded daily

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