P4-10 (similar to) Present value. A smooth-talking used car salesman who smiles considerably is offering you a great deal on a "pre-owned car. He says, "For only 8 yours. If you can borrow money at 9%, what is the price of this car? Assume the payment is made at the end of each year. If you can borrow money at 9%, what is the price of this car? great deal on a "pre-owned" car. He says, "For only 8 annual payments of $2,300, this beautiful 1998 Honda Civic can be made at the end of each year