ssume that you wish to trade in your old car and buy a new car. The new car has a list price of $26,983.54 and you have been offered a 6 yr (72 months) car loan at a nominal annual interest rate of 3.84% (monthly compounding). And assume u want ur monthly payments to be no more than $400/month & will walk away if higher. Determine the min trade in that must be offered o

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A: Present value is the current value of future cash flows.

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