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Determine the annual equivalent amount over 4 years for the following cash flow (CF) pattern. The nominal interest rate is 4%, and it is compounded
Determine the annual equivalent amount over 4 years for the following cash flow (CF) pattern. The nominal interest rate is 4%, and it is compounded monthly. (EOY = end of year) EOY 0, CF = -$14,000 EOY 1, CF = -$1,000 EOY 2, CF = -$3,000 EOY 3, CF = $6,000 EOY 4, CF = $10,500
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Personal Finance A Practical Approach
Authors: Jane King, Mary Carey
1st Edition
0199668833, 9780199668830
