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Determine the present value of the $5,000 payment over 36 months beginning at the end of the first month at an annual interest rate of 18% paid monthly. given : R= 5000 n=3 m=12 i=18% asked A?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Determine the present value of the $5,000 payment over 36 months beginning at the end of the first month at an annual interest rate of 18% paid monthly.

given :

R= 5000

n=3

m=12

i=18%

asked A?

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