1
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Refer to Question 3 above. Solve using the financial calculator, documenting your steps/keystrokes.
2
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Refer to Question 7 above. Solve using the financial calculator, documenting your steps/keystrokes.
3
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You agree to repay a loan over five years with the following stream of cash payments: $1,000; $1,100; $1,250; $1,280; and $1,300. If you wish to discount these payments to their present value today using 4%, why can you not use one annuity calculation, as seen in previous chapters?