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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
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 7.0%?
0 | 1 | 2 | 3 | 4 | |
CFs: | $0 | $1,000 | $2,000 | $2,000 | $2,000 |
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