Someone offers to buy your car for five, equal annual payments, beginning 5 years from...
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Accounting
Someone offers to buy your car for five, equal annual payments, beginning 5 years from today. If you think that the present value of your car is $18,000.00 and the interest rate is 10%, what is the minimum annual payment that you would accept?
Multiple Choice
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$6,952.07
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$7,647.27
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$8,342.48
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$6,256.86
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