Question: Suppose you plan to put $ 8 , 0 0 0 down on a car today and make payments of $ 4 , 0 0

Suppose you plan to put $8,000 down on a car today and make payments of $4,000 in each of the next two years, which will pay off the car. If interest rates are 8%, what is the value of your car today? (Solution in instructor notes)

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