Question
3. To purchase a sound system, Jacob made a $400 down payment and signed an instalment contract that required payments of $70 at the end
3. To purchase a sound system, Jacob made a $400 down payment and signed an instalment contract that required payments of $70 at the end of every month for 3 years. Interest was 10.8% compounded monthly. Calculate a) the price of the sound system b) the interest he paid $375.66
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Applied Financial Macroeconomics And Investment Strategy
Authors: Robert T McGee
1st Edition
1137428394, 978-1137428394
