Janice will need to pay $200 at the end of every month for the next 12 months,

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Janice will need to pay $200 at the end of every month for the next 12 months, except for the payment of the 8th month. What is the present value, assuming a rate of 4%, compounded quarterly?

Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Posted Date: Apr 08, 2024 07:57 AM

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Janice will need to pay $200 at the end of every month for the next 12 months,

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Answer We can solve for the present value PV even without knowing the exact discount on the 8th mont... View the full answer

Contemporary Business Mathematics with Canadian Applications

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