Calculate the present value of a loan with $25,000 due after 12 years at 6% if the interest was compounded monthly.
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Get it written →Calculate the present value of a loan with $25,000 due after 12 years at 6% if the interest was compounded monthly. (the present value is the same as the principal amount of the loan). Discuss how the present value of a compounded loan changes as you increase time?
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