Your car loan has monthly payments of $295 for the next 5 years with the first payment due today. If the annual interest rate is 5.16%, what is the value of the payments today?
Your car loan has monthly payments of $295 for the next 5 years with the first payment due today. If the annual interest rate is 5.16%, what is the value of the payments today?
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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