Jim sold a car and accepted a note promising cash flows of $1,000 at the end...
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Jim sold a car and accepted a note promising cash flows of $1,000 at the end of Year 1, and $2,000 at the end of Years 2, 3, and 4 as his payment. What was the effective price he received for the car, assuming an interest rate of 9.10%? A Your answer should be between 4,715.00 and 6,525.00, rounded to 2 decimal places, with no special characters. Jim sold a car and accepted a note promising cash flows of $1,000 at the end of Year 1, and $2,000 at the end of Years 2, 3, and 4 as his payment. What was the effective price he received for the car, assuming an interest rate of 9.10%? A Your answer should be between 4,715.00 and 6,525.00, rounded to 2 decimal places, with no special characters.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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