Make a loan payment, Bridge & Co. has to make a loan

Make a loan payment

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Bridge & Co. has to make a loan payment of $3937 at the end of each year for 24 years. In present day dollars, how much will Bridge & Co. pay in total for the loan? Assume an interest rate of 2% compounded annually.

Reference no: EM13888608

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Make a loan payment : Bridge & Co. has to make a loan payment of $3937 at the end of each year for 24 years. In present day dollars, how much will Bridge & Co. pay in total for the loan? Assume an interest rate of 2% compounded annually.

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