Suppose you are selling a piece of furniture to a friend who cant afford to pay you

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Suppose you are selling a piece of furniture to a friend who can’t afford to pay you upfront but offers to pay you in monthly installments for the next year. What information do you need to calculate the present value of this offer? (Hint: Think about the formula for present value.)
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Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

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