Question
You need to borrow $5,000 quickly, and the payday lender will give it to you if you promise to repay $1000 each month for the
You need to borrow $5,000 quickly, and the payday lender will give it to you if you promise to repay $1000 each month for the next 6 months starting one month from today. If the lender's cost of capital is 18% APR, compounded monthly, what is the NPV of this deal for the lender?
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Fundamentals Of Financial Management
Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston
11th Edition
1111795207, 9781111795207
