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Your firm has sold a fleet of 100 cars to a local firm at a discounted price of $40,000 each (a total of $4,000,000) due
| Your firm has sold a fleet of 100 cars to a local firm at a discounted price of $40,000 each (a total of $4,000,000) due in one year. You are willing to discount the purchase price at an annual rate of 4% if the firm pays cash today. What is the least amount of money you will accept if the firm pays your company today? |
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Cases In Financial Management
Authors: I.M. Pandey
3rd Edition
0071333428, 978-0071333429
