A conditional sale contract requires two payments three and six months after the date of the contract.
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A conditional sale contract requires two payments three and six months after the date of the contract. F:aeh payment consists of $1900 principal phis interest at 10.5% on $1900 from the date of the contract. One month into the contract, what price would a finance company pay for the contract if it requires a 16% rate of return on its purchases?
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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