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Posted on Oct 06, 2024

You just sold your car to your best friend for $ 1 5 , 0 0 0 . He promised to pay you for it

You just sold your car to your best friend for $

15, 000 .

He promised to pay you for it two years from today. If the appropriate discount rate is

12 %,

how much are you really selling the car for in today

s dollars?

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