Each with the first payment being received immediately

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1. What is the present value of 18 annual payments of $ 4361 each with the first payment being received immediately? assume you can invest money at a 10% stated rate with semi-annual compounding. (round your answer to 2 decimal places)

2. Phoebe realizes that she has charged too much on her credit card and has racked up $6,600 in debt. If she can pay $200 each month and the card charges 18 percent APR (compounded monthly), how long will it take her to pay off the debt?

Reference no: EM131884123

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