Question
B buys a car for R3250 making a down payment of R500. One month later he is to begin making a series of monthly payments
B buys a car for R3250 making a down payment of R500. One month later he is to begin making a series of monthly payments of R100 each. If he is charged interest at 12% p.a. compounded monthly. How many full payments must he make?
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Risk Management And Financial Institutions
Authors: John C. Hull
3rd Edition
1118269039, 9781118269039
