An automobile dealership offers a car with $0 down payment, $0 first months payment, and $0 due
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An automobile dealership offers a car with $0 down payment, $0 first month’s payment, and $0 due at signing. The monthly payment, starting at the end of month two, is $386 and there are a total of 38 payments. If the APR is 12% compounded monthly, the negotiated sales price is closest to which answer below?
(a) $14,668
(b) $12,035
(c) $12,415
(d) $13,175
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Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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