7. You are thinking about buying a rare art collection that costs $100,000. The...
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Finance
7.
You are thinking about buying a rare art collection that costs $100,000. The dealer is proposing the following deal: She will lend you the money and you will repay the loan by making the same payment at the end of every three years for the next 30 years, with the first payment to be made at the end of year 3. If the interest rate is 6% p.a., compounded annually, the amount you will have to pay every three years is closest to:
Group of answer choices
$23,129.
$22,251.
$18,126.
$19,203.
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