Asked by almas
A man agrees to pay Rs.4500 per month for 30 moths to pay off a car loan. If the interest of 18% per annum is charged monthly, the present value of car is:
Answers
Answered by
Reiny
i = .18/12 = .015
n = 30
PV = 4500( 1 - 1.015^-30)/.015
= ....
n = 30
PV = 4500( 1 - 1.015^-30)/.015
= ....
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