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You agreed with a seller to pay Opel car of $32,000, as follows: you paid $20,000 as aninitial payment. The plan is to pay the price of the car plus the interest amount by the end of the 10th year. At the end of the third year, you managed to pay $2,000. Find theamount of money that the seller will receive after 10 years. The interest rate is (use thelast two digits of your student ID) per year. Tip: use tables and draw cash flow pm

You agreed with a seller to pay Opel car of $32,000, as follows: you paid $20,000 as aninitial payment. The plan is to pay the price of the car plus the interest amount by the end of the 10th year. At the end of the third year, you managed to pay $2,000. Find theamount of money that the seller will receive after 10 years. The interest rate is (use thelast two digits of your student ID) per year. Tip: use tables and draw cash flow pm

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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You agreed with a seller to pay Opel car of $32,000, as follows: you paid $20,000 as aninitial payment. The plan is to pay the price of the car plus the interest amount by the end of the 10th year. At the end of the third year, you managed to pay $2,000. Find theamount of money that the seller will receive after 10 years. The interest rate is (use thelast two digits of your student ID) per year. Tip: use tables and draw cash flow pm
Transcribed Image Text:You agreed with a seller to pay Opel car of $32,000, as follows: you paid $20,000 as aninitial payment. The plan is to pay the price of the car plus the interest amount by the end of the 10th year. At the end of the third year, you managed to pay $2,000. Find theamount of money that the seller will receive after 10 years. The interest rate is (use thelast two digits of your student ID) per year. Tip: use tables and draw cash flow pm
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