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Evaluate what is the present value of the investment

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Reference no: EM132986373

Problem a. You receive a credit card offer of 18% APR and interest is compounded monthly. What is the actual rate per month you are charged?

Problem b. An investment will pay you $3,000 per year in each of the next 10 years. If the rate is 8%/year, what is the present value of this investment?

Reference no: EM132986373

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