Ancient Roman contractors who built roads were paid half when the road was completed, and half 40 years after the road had been completed if the road...

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Ancient Roman contractors who built roads were paid half when the road wascompleted, and half 40 years after the road had been completed if the road was still in goodworking order. Assume the annual yield is 1.5%. A contractor receives a contract to build asmall road and will be paid a total 10,000 denarii. It will take 3 years to complete the road, sothe contractor will be paid 5,000 denarii in 3 years and another 5,000 denarii in 43 years. What(to the Ancient Roman contractor) is the present value of this contract? Round your answer tothe nearest denarii.

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Ancient Roman contractors who built roads were paid half when the road was completed, and half 40 years after the road had been completed if the road...

  • Written in: 17-Oct-2019
  • Paper ID: 11498452
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Oct 17, 2019

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