If the discount annual rate is 1636 percent compounded, Financial Management

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If the discount annual rate is 1636 percent compounded

A car dealership offers you no money down on a new car. You may pay for the car for 6 years by equal monthly end-of-the month payments of $328 each, with the first payment to be made on month from today. If the discount annual rate is 16.36 percent compounded monthly, what is the present value of the car payments?

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Financial Management: If the discount annual rate is 1636 percent compounded

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Financial Management: If the discount annual rate is 1636 percent compounded

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