You will receive 13 payments of $535, where the first payment will be received today (Month 0) and all other payments will be received in 10-month intervals (Months 10, 20, 30 upto 120). Assume that the appropriate EAR is 7.68 percent. Given this information, determine the present value of these 13 payments at Month 0.

Answer rating: 100% (QA)

To determine the present value of the 13 payments at Month 0 we need to discount each payment back t... View the full answer