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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 5
Suppose you are selling a piece of furniture to a friend who can't afford to pay you upfront but offers to pay you in monthly installments for the next year. What information do you need to calculate the present value of this offer? ( Hint: Think about the formula for present value.)
Explanation
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Present value of the investment:
Presen...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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