What would be the present value of dollar thirty a year

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Problem 1: What would be the present value of $30 a year for 3 years discounted back to the present at 3%? Alex purchased a truck for $37,500, putting down 10%. He has agreed to pay the remaining balance over the next 7 years in 7 equal end-of-year payments, plus 8% compound interest on the unpaid balance. What will the equal payments be?

Reference no: EM133004513

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