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If your time value of money is 7 percent what would be the

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You have purchased a new sailboat and have the option of paying the entire $8,000 now or making equal, annual payments for the next 4 years, the first payment due one year from now. If your time value of money is 7 percent, what would be the largest amount for the equal, annual payments that you would be willing to undertake?

Reference no: EM13571254

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