Loan Payments. Reconsider the car loan in the previous question. What if the payments are made in
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Loan Payments. Reconsider the car loan in the previous question. What if the payments are made in four annual year-end installments? What annual payment would have the same present value as the monthly payment you calculated? Use the same effective annual interest rate as in the previous question. Why is your answer not simply 12 times the monthly payment?
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Related Book For 
Study Guide To Accompany Fundamentals Of Corporate Finance
ISBN: 9780073012421
5th Edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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