Homework Answers
Formula
PV(payment made on last days)
=Payment * ((1-(1+r)^(-n))/r)
=848.09*((1-(1+15%)^(-9))/15%)=$4046.73
=9668.26*((1-(1+8%)^(-15)/8%)=$82755.58
=22022.93*((1-(1+6%)^(-25))/6%)=$281527.19
=17412.54*((1-(1+33%)^(-6))/33%)=$177303
PV(payment made on first days)
=Payment +Payment * ((1-(1+r)^(-n))/r)
=848.09+848.09*((1-(1+15%)^(-9+1))/15%)=$4653.74
=9668.26+9668.26*((1-(1+8%)^(-15+1))/8%)=$89375.69
=22022.93+22022.93*((1-(1+6%)^(-25+1))/6%)=$298418.58
=71412.54+17412.54*((1-(1+33%)^(-6+1))/33%)=$232814
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