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Sagot :
TVM means time and value of money
PV means present value
FV means future value
PMT means amount of payment
P/Y is the payments per year
C/Y is the
N is the number of years
If we see the options there are two that contains 1%= 6.6. So the answer should be between this two options,
BUT theres a difference : in option B it says 5620 but the problem says -620, that is on option C.
So the correct option is C . Just rest to probe that this is the final result using the TVM of a graphic calculator.
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