Amanda agrees to sell Louise her computer. Louise pays $1,300 for it today. She notices that, theoretically,
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Amanda agrees to sell Louise her computer. Louise pays $1,300 for it today. She notices that, theoretically, she could have paid money continuously to Amanda over the next 8 years, with interest being charged at a rate of 11% per year effective, such that each year a fixed amount of $R was paid. Louise also notices that, to Amanda, both methods of payment would have been equivalent in value. What is the nearest dollar? Calculate
Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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