zokal33561 zokal33561
  • 16-02-2024
  • Business
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Your friend just came back from his vacation in Patagonia, Chile. He has financed his trip with a travel agency and must pay it back after the trip. The agency requires him to pay $300 per month, starting today, for the next 4 years. How much did the trip cost if the appropriate discount rate is 5% APR with monthly compounding?

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