EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Chapter 5, Problem 45P
Summary Introduction

To determine: Monthly rate of interest.

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Prepare a time diagram for the present value of a four-year annuity due of $200. Assume an interest rate of 10% per year.
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