Question

Mark receives n annual payments of 800, starting today. The present value of all payments combined...

Mark receives n annual payments of 800, starting today. The present value of all payments combined is 1550. His annual interest rate is 100%. Find n.

a) 2   b)3 c) 4   d) 5 e)none of the above

Homework Answers

Answer #1

Option d

5 years

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