Today we have a debt that must be paid in 30 installments per month due, as follows: $10,000 the first, $12,000 the second, $14,000 the third and so on, and with an interest rate of 3.2% per month. It is desired to be replaced by the equivalent in 30 equal installments, starting in four months, and an interest rate of 3% per month. Determine the value of the new uniform series Select one: a. $36.582,35 b. $31.872,99 c. $29.772,99
Today we have a debt that must be paid in 30 installments per month due, as follows: $10,000 the first, $12,000 the second, $14,000 the third and so on, and with an interest rate of 3.2% per month. It is desired to be replaced by the equivalent in 30 equal installments, starting in four months, and an interest rate of 3% per month. Determine the value of the new uniform series Select one: a. $36.582,35 b. $31.872,99 c. $29.772,99
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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Question
Today we have a debt that must be paid in 30 installments per month due, as follows: $10,000 the first, $12,000 the second, $14,000 the third and so on, and with an interest rate of 3.2% per month. It is desired to be replaced by the equivalent in 30 equal installments, starting in four months, and an interest rate of 3% per month. Determine the value of the new uniform series
Select one:
a. $36.582,35
b. $31.872,99
c. $29.772,99
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