You took out a student loan in college and now have to pay $1,900 every year for 20 years, starting one year from now. The annual interest rate on the loan is 7%.What is the present value of the 20 yearly payments?
You took out a student loan in college and now have to pay $1,900 every year for 20 years, starting one year from now. The annual interest rate on the loan is 7%.What is the present value of the 20 yearly payments?
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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You took out a student loan in college and now have to pay $1,900 every year for 20 years, starting one year from now. The annual interest rate on the loan is 7%.What is the present value of the 20 yearly payments?
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