You took out a student loan in college and now have to pay $1,700 every year...
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You took out a student loan in college and now have to pay $1,700 every year for 15 years, starting one year from now. The annual interest rate on the loan is 5%. What is the present value of the 15 yearly payments? You took out a student loan in college and now have to pay $1,700 every year for 15 years, starting one year from now. The annual interest rate on the loan is 5%. What is the present value of the 15 yearly payments?
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To calculate the present value of the 15 yearly payments we ca... View the full answer
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
Posted Date:
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