Chapter 4: 22BP (page 283)
If you owe $35,000 payable at the end of eight years, what amount should your creditor accept in payment immediately if she could earn 13 percent on her money?
Short Answer
The creditor should accept $13,165.60 now.
Chapter 4: 22BP (page 283)
If you owe $35,000 payable at the end of eight years, what amount should your creditor accept in payment immediately if she could earn 13 percent on her money?
The creditor should accept $13,165.60 now.
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