Question
A car dealership offers you no money down on a new car. You may pay for the car for 3 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 3 years by equal monthly end-of-the-month payments of $446 each, with the first payment to be made one month from today. If the discount annual rate is 13.59 percent compounded monthly, what is the present value of the car payments?
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Real Estate Finance And Investment
Authors: Terrence M. Clauretie, G. Stacy Sirmans
8th Edition
1629809942, 9781629809946
