Question
Someone offers to buy your car for five, equal annual payments, beginning 8 years from today. If you think that the present value of your
Someone offers to buy your car for five, equal annual payments, beginning 8 years from today. If you think that the present value of your car is $13,000.00 and the interest rate is 11%, what is the minimum annual payment that you would accept?
Multiple Choice
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$6,572.44
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$8,032.99
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$8,763.26
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$7,302.71
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Financial Accounting The Impact On Decision Makers
Authors: Gary A Porter, Curtis L Norton
7th Edition
1439080526, 9781439080528
