Business, 27.02.2020 23:48 davfar334p47luq

Now, Let's assume that the couple would delay taking that vacation until summer 2024, where the cost would increase to $10,000, and let's also assume that their friend Kim has just made an offer to deliver $10,000 to the couple upon their arrival at Geneva Airport on the first of June, 2024. Kim's offer is a proposal of an alternative payment of a personal loan of $7,500 that she got from the couple in 2017. The agreement then was that the loan had to be paid back by Summer of 2024 with a compound interest rate of 5% annually. What would be the current value of the $10,000 assuming the compound interest rate stays at 5%?

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