Homework Answers
| Amount of each installment=loan amount/PV of ordinary annuity | |||||||
| 28000/2.77509= | 10090 | ||||||
| PV of ordinary annuity of dollar 1 for 4 percent rate and for three years | |||||||
| by using the table present value of ordinary annuity of 1 | |||||||
| answer is 10090 | |||||||
| if any doubt please comment | |||||||
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