. The design studio you rented requires you to sign a lease for 60 months, at seven thousa due today. At an APR of .0524 (monthly compounding), what is the present value of the make?
. The design studio you rented requires you to sign a lease for 60 months, at seven thousa due today. At an APR of .0524 (monthly compounding), what is the present value of the make?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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The APR is the nominal rate of interest without considering the impact of cmpounding on the interest and is much less than effective interest rate.
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