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Type of time value of money calculation

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You can afford to make monthly payments of a certain amount for three years, and you want to know how much you can borrow based on this payment amount. Which type of time value of money calculation should be used to solve this problem?

  • present value of an annuity
  • future value of an annuity
  • present value of a lump sum
  • future value of a lump sum

Reference no: EM132592390

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