Solution-Compute what is the present value of the car

Compute what is the present value of the car payments

Reference no: EM131379178

Finance: FV and PV of annuity non-annually

Question

A car dealership offers you no money down on a new car. You may pay for the car for 5 years by equal monthly end-of-the-month payments of $461 each, with the first payment to be made one month from today. If the discount annual rate is 16.04 percent compounded monthly, what is the present value of the car payments?

Reference no: EM131379178

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Compute what is the present value of the car payments : A car dealership offers you no money down on a new car. If the discount annual rate is 16.04 percent compounded monthly, what is the present value of the car payments?

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Compute what is the present value of the car payments

Reference no: EM131379178

Reference no: EM131379178

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