Question
A car dealership offers your client no money down on a new car. Your client may pay for the car for 3 years by equal
A car dealership offers your client no money down on a new car. Your client may pay for the car for 3 years by equal monthly end-of-the-month payments of $646 each, with the first payment to be made one month from today. If the annual interest rate is 4.31 percent compounded monthly, what is the present value of the car payments?
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School Finance A Policy Perspective
Authors: Allan Odden, Lawrence Picus
6th Edition
1259922316, 9781259922312
