Question
A bookstore offers you the following deal: you pay $31 today (in January) and you get 6% off the price of everything you purchase in
A bookstore offers you the following deal: you pay $31 today (in January) and you get 6%
off the price of everything you purchase in December (for simplicity assume exactly 12
months from now). If your savings account earns 4.08% APR (compounded monthly), how
much do you have to buy in December to just break even on the offer?
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
