SOLUTION: What is the Present Value of a loan that will have regular payments pf $50 bi-weekly for 6 years at a finance rate of 7% per annum?

Question 933932: What is the Present Value of a loan that will have regular payments pf $50 bi-weekly for 6 years at a finance rate of 7% per annum?
Answer by ptfile(81) (Show Source): You can put this solution on YOUR website!

Let A = Periodic amount
    R = Interest rate per annum
    N = number of intervals
    T = Duration of the loan
   FV = Future Value
   PV = Present Value

The present value is $6362.24

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