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An electronics store sells $6000 Ultra High Def televisions. They are offering a special sale. You can purchase the television with 0% financing for 3
- An electronics store sells $6000 Ultra High Def televisions. They are offering a special sale. You can purchase the television with 0% financing for 3 years (with monthly payments) or they will reduce the price by K right now. If you can earn 5% on your money (compunded monthly), what is the minimum value of K below which it makes more financial sense to take the 0% financing?
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
