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Unformatted text preview: to lend money at 12% per year compounded monthly for 48 months with a zero downpayment. How much can you spend on a car today? Assume the first payment is due exactly one month after you buy the car. PV of an Annuity Due  Recall the example from before, but assume your grandparents plan to give your sister $1,000 at the beginning of each year in college (starting now) for four years. What is the present value of this annuity? As b...
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This document was uploaded on 03/17/2014 for the course COMM 298 at University of British Columbia.
 Spring '14

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