Suppose the present value of a series of payments is equal to R84 398 and the (constant) nominal interest rate is equal to 9.5 %. If 13 equal annual payments have to be made, what is the size of each payment?

Suppose the present value of a series of payments is equal to R84 398 and the (constant) nominal interest rate is equal to 9.5 %. If 13 equal annual payments have to be made, what is the size of each payment?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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