Mathematics, 08.02.2021 06:20 paige1616

Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loan's eight-year life. What would be the present value of this loan if it carried an 8.5 percent interest rate?

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Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at...

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