What is the present value of series of payments

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-Assume that a year from today you will start receiving annual payments, which will grow at 2.6% for the next 11 years. If the appropriate discount rate is 3.25% and first payment amount will be $4,000, what is the present value of this series of payments.

-Your credit card has a balance of $7,000 and an effective monthly interest rate of 0.8%. How many months until you pay off the balance assuming you make monthly payments of $700?

Reference no: EM132998747

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