ECN437CarLoan

ECN437CarLoan - five years What is the present value of the...

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ECN437 Car Loan Suppose you are thinking of buying a new car. The dealer offers to loan you  $20,000 in exchange for a payment of $5,000 at the end of each of the next 
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Unformatted text preview: five years. What is the present value of the loan if the interest rate is 7%?...
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