Mathematics, 08.02.2022 04:00 annamcveigh50

Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loan's eight-year life. What would be the present value of the loan if the interest rate is 8 percent?

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Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at...