A car dealership offers you no money down on a new car. You may pay for...
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A car dealership offers you no money down on a new car. You may pay for the car for 6 years by equal monthly end-of-the-month payments of $449 each, with the first payment to be made one month from today. If the discount annual rate is 3.16 percent compounded monthly, what is the present value of the car payments? Round the answer to two decimal places. A car dealership offers you no money down on a new car. You may pay for the car for 6 years by equal monthly end-of-the-month payments of $449 each, with the first payment to be made one month from today. If the discount annual rate is 3.16 percent compounded monthly, what is the present value of the car payments? Round the answer to two decimal places.
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Related Book For
Financial Accounting
ISBN: 978-1259103285
5th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
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