CFIN (with Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
5th Edition
ISBN: 9781305661653
Author: Scott Besley, Eugene Brigham
Publisher: Cengage Learning
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Question
Chapter 4, Problem 23PROB
Summary Introduction
W has taken loan of $50,000 at 4.2% interest rate and need to make monthly payments for 10 years.
Present value of an
Here,
The present value of an annuity is “
The periodic payments are “PMT”.
The interest rate is “r”.
The maturity period of number of years is “n”.
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Chapter 4 Solutions
CFIN (with Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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