Appendix B - Illustration 1
Hello! Can you help me understand how we arrive at -157.10$ here (page 24 : Appendix B - Illustration 1)? I'm not sure which timing to take for discounting the cash flows. Could you provide a detailed solution? Thank you 
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Hello! Can you help me understand how we arrive at -157.10$ here (page 24 : Appendix B - Illustration 1)? I'm not sure which timing to take for discounting the cash flows. Could you provide a detailed solution? Thank you
Comments
Have you tried discounting at the beginning of the period, middle of the period and end of the period?