Question
Janice will need to pay $200 at the end of every month for the next 12 months, except for the payment of the 8th month.
Janice will need to pay $200 at the end of every month for the next 12 months, except for the payment of the 8th month. What is the present value, assuming a rate of 4%, compounded quarterly?
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Answer We can solve for the present value PV even without knowing the exact discount on the 8th mont...
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
