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An installation loan consists of 30 annual payments of $2500 made at the end of each year.

(A) find the present value of the loan assuming an APR of 6% compounded annually.
(B) find the present value of the loan assuming an APR of 9% compounded annually.
(do not round until final answer then round to two decimal places as needed).
 
Guest Feb 21, 2012

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