Bucan RV's is running a promotion stating that customers can buy an RV in the spring and
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Bucan RV's is running a promotion stating that customers can buy an RV in the spring and make no payments until winter. Brian purchased an RV for $34,599 and signed paperwork to repay it with month-end payments of $457.80 over 8 years after a period of deferral. How long is the deferral period if a rate of 5.15% compounded monthly is applied starting from the date of purchase? Express the answer in years to two decimal places.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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