Paul makes car payments of $4945 at the end of each six month period for 3 years

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Paul makes car payments of $4945 at the end of each six month period for 3 years followed by month-end payments of $691 for a further 3 years. If interest is calculated at 6% semiannually, what was the value of the car at the time of purchase?

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Entrepreneurship

ISBN: 9781119563099

5th Edition

Authors: Andrew Zacharakis, William D Bygrave

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Posted Date: May 15, 2024 01:51 PM

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Paul makes car payments of $4945 at the end of each six month period for 3 years

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To determine the value of the car at the time of purchase we need to calculate the present value of ... View the full answer

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