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1. Calculate the present value of 120 monthly payments of $300 at an annual rate of 8%. The payments are made at the end of
1. Calculate the present value of 120 monthly payments of $300 at an annual rate of 8%. The payments are made at the end of each month.
2.
| You are financing a new car with a 3 year loan at 5% annual interest, compounded | ||||||||
| monthly. The amount you are borrowing is $16,000. What are your monthly payments? | ||||||||
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Capital Market Finance
Authors: Patrice Poncet, Roland Portait, Igor Toder
1st Edition
3030845982, 978-3030845988
