Question
A car dealership offers you no money down on a new car. You may pay for the car for 5 years by equal monthly end-of-the-month
A car dealership offers you no money down on a new car. You may pay for the car for 5 years by equal monthly end-of-the-month payments of $377 each, with the first payment to be made one month from today. If the discount annual rate is 6.23 percent compounded monthly, what is the present value of the car payments?Round the answer to two decimal places.
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The Changing Geography Of Banking And Finance
Authors: Pietro Alessandrini ,Michele Fratianni ,Alberto Zazzaro
1st Edition
1441947205, 978-1441947208
