Equivalent value of the car, Finance Basics

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Equivalent value of the car

Problem:

Suppose you are making a monthly payment of $397.08 for your car loan of 84 months. If your discount rate is 18% APR (based on monthly pay Bank financing), how much is the equivalent value of the car for you today (i.e., the present value of this annuity)? Please provide step by step solution.

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Finance Basics: Equivalent value of the car

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Finance Basics: Equivalent value of the car

Reference No:- TGS0876498

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Recent Questions Asked Finance Basics

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Equivalent value of the car

Reference No:- TGS0876498

Recent Questions Asked Finance Basics

Q : Modified internal rate of return for the project

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