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1. Sara borrowed funds to buy furniture for her business. Her business paying $200 at the end of each month for four years. The
1. Sara borrowed funds to buy furniture for her business. Her business paying $200 at the end of each month for four years. The bank charges interest on the loan at 8% compounded monthly. a. What was the cash price of the furniture? b. How much is the cost of financing?
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Investments An Introduction
Authors: Herbert B Mayo
9th Edition
324561385, 978-0324561388
