4.- A house in Spain can be purchased with an initial payment of $20,000 and bi-monthly payments of $1,200 for 14 years. Determine the cash price of the house, considering that the payments include an 8.3% interest rate compounded bi-monthly. OPtions: $79,390.34 $77,451.89 $80,168.31 $75,333.87
4.- A house in Spain can be purchased with an initial payment of $20,000 and bi-monthly payments of $1,200 for 14 years. Determine the cash price of the house, considering that the payments include an 8.3% interest rate compounded bi-monthly. OPtions: $79,390.34 $77,451.89 $80,168.31 $75,333.87
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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4.- A house in Spain can be purchased with an initial payment of $20,000 and bi-monthly payments of $1,200 for 14 years. Determine the cash price of the house, considering that the payments include an 8.3% interest rate compounded bi-monthly.
OPtions:
$79,390.34
$77,451.89
$80,168.31
$75,333.87
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