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A young graduate has been offered a time-share on a condo in Steamboat Springs, Colorado. To be a part owner, the graduate must pay
A young graduate has been offered a time-share on a condo in Steamboat Springs, Colorado. To be a part owner, the graduate must pay $1,544.00 at the end of each year for the next 18.00 years. If the graduate's discount rate is 6.00%, what is the cost of this opportunity in today's dollars? In other words, what is the most the graduate should be willing to pay today instead of making payments?
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
978-0195168075, 9780195168075
