Solution-Assuming an nominal interest rate

Assuming an nominal interest rate

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Reference no: EM132117008

You sold your motorcycle and accepted a note with the following cash flow stream as your payment. It pays you nothing now, $726 next year, and $6,000 for the three years after that (Years 2-4).

What was the effective price you received for the motorcycle assuming an nominal interest rate of 8.5%? Show your answer to the nearest $.01. Do not use the $ or, signs in your answer.

Reference no: EM132117008

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Assuming an nominal interest rate

Reference no: EM132117008

Reference no: EM132117008

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