willie can afford monthly car payments of $200 for four years. what is the most expensive...
Homework Answers
Present Value of Annuity = Periodic Payment * [ 1- (1+ Rate of Interest)^(- TIme) ] / Rate of Interest
= $ 200 * [ 1- (1+18%/12)^(-4*12)]/ (18%/12)
= $ 6,808.51
Answer: $ 6,808.51
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willie can afford monthly car payments of $200 for four years. what
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