How much would an investor pay for a loan contract that guarantees payment of $249 at the
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How much would an investor pay for a loan contract that guarantees payment of $249 at the end of each month for the next 12 months? Assume the investor requires a return of 10.2% com-pounded monthly.
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An investor would be willing to pay an amount equal to the present val...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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