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Tony is able to pay $160 a month for five years for a car starting from t=1. If the stated interest rate is 4.9% compounded
Tony is able to pay $160 a month for five years for a car starting from t=1. If the stated interest rate is 4.9% compounded monthly, how much can Tony afford to borrow to buy a car now? Group of answer choices $6,961.36 $8,499.13 $8,686.82 $9,588.05 $8,533.84
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Investments
Authors: William F. Sharpe, Gordon J. Alexander, Jeffery V. Bailey
6th Edition
8120321014, 978-8120321014
