You want to buy a new laptop and you are given the payment scheme: 4,317 cash down payment and 4,754

Cash value of laptop will be present value of cash payment of$4754.5 paid end of every month and payment of $4317 as on Today

Interest rate will be 4.66%/12 i.e.0.388 since its compounded monthly.

Further this interest shall be compounded 12 times.

PVF for 0.388 for12 months =11.703

Note :-This can be calculated on normal calculator like this

1/1.00388 do this then press equal to 12 times (12 months) then do grand total

Or if you have chart then it can be taken from chart also

Back to the main solution

$4754.5 x 11.703 +$4317 =$59958. 91 or if $60000(aprrox)

Note:- since we've taken 3 decimals if we take full decimal oj calculator then we will get $60000.