Question
Question 5 Your uncle offers to sell you his vintage Rolls Royce. He suggests a payment plan where you pay just $12,000 today, $7200 in
Question 5
Your uncle offers to sell you his vintage Rolls Royce. He suggests a payment plan where you pay just $12,000 today, $7200 in 11 months and $70,000 in exactly 21 months from today. If the interest rate is 7.3% per annum compounding monthly, what is the value of the offer (in present day dollars, rounded to the nearest dollar; dont show $ sign or commas)?
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Financial Accounting
Authors: LibbyShort
7th Edition
978-0078111020
