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Present value A smooth-talking used-car salesman who smiles considerably...

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Accounting

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Present value A smooth-talking used-car salesman who smiles considerably is offering you a great deal on a pre-owned" car. He says, "For only 8 annual payments of S2 800 this beautiful 1998 Honda Chic can be yours if you can borrow money at 7%, what is the price of this car? Assume the payment is made at the end of each year lf you can borrow money at 7%, what is the price of this car? Round to the nearest cent)

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