Question #162525

An appliance is being paid three months at 1230 pesos for 3 years and 6 months, if the money is worth 9% compounded quarterly what is its fair market value?


1
Expert's answer
2021-02-24T07:10:16-0500

=1230(1+6.5/4/100)4∗15=1230(1+6.5/4/100)4*15

=1230(1.01625)14=1230(1.01625)14

=1541.39


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