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Compute the present and future worth of payments of a. 5,000 at the beginning of each month for 12 months. b. Future worth of 12 payments of 5,000 each at the beginning of each month ( at the end of the 12 months ) Interest = 1% per month.

Compute the present and future worth of payments of a. 5,000 at the beginning of each month for 12 months. b. Future worth of 12 payments of 5,000 each at the beginning of each month ( at the end of the 12 months ) Interest = 1% per month.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 6FPE
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Compute the present and future worth of payments of
a. 5,000 at the beginning of each month for 12 months.
b. Future worth of 12 payments of 5,000 each at the beginning of each month ( at the end of the 12 months )


Interest = 1% per month.

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