You sold a car and accepted a note with the following cash flow stream as your payment. What was the effective price you received for the car assuming an interest rate of 5-5%? CFS: O O 0 a. $7,510 b. $6,062 c. $8,107 d. $6,396 e. $7,000 0 $0 1 $1,000 2 $2,000 3 $2,000 4 $2,000

12

You sold a car and accepted a note with the following cash flow stream as your payment. What was the effective price you received for the car assuming an interest rate of 5.5% ? a. $7.510 b. $6.002 csere? d. 56,396 c. $37,000