Question
10.You have the alternative of paying for university fees today for a payment of $15,000 or, you can select a payment plan where you pay
10.You have the alternative of paying for university fees today for a payment of $15,000 or, you can select a payment plan where you pay $8,000 in 6 months from today and another $12,000 in exactly 18 months from today. If the interest rate is 9.9%p.a. compounding monthly, what is the advantage that the payment plan has over the upfront payment?
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Health Care Finance Basic Tools For Nonfinancial Managers
Authors: Judith J. Baker, R.W. Baker
4th Edition
1284029867, 978-1284029864
