Question
You intend to buy a used car for $5,000 at 9% interest to be paid in five years. Assume you will make annual payments. What
You intend to buy a used car for $5,000 at 9% interest to be paid in five years. Assume you will make annual payments. What is the amount of your payment?
1. Interest = 2. Future Value = 3. Present Value = 4. Payment = 5. Time (Period) = Main Question: What are you solving for? _________________ Solve: N= I/Y= PV= PMT= FV=
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Finance For Managers
Authors: E. Martinez Abascal
1st Edition
0077140079, 9780077140076
