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Incorrect Question 7 0 / 10 pts You purchase a cruise, as motivation, for your graduation in 4 years. The cruise line requires you to
Incorrect Question 7 0 / 10 pts You purchase a cruise, as motivation, for your graduation in 4 years. The cruise line requires you to pay 20% of the total price as a security deposit upon purchase. You then pay $170 per month for the next 4 years, with an additional annual interest rate of 0.85%, compounded monthly charged on the remaining balance. How much extra money were you required to pay by not purchasing the cruise outright? Hint: Calculate the following items 1. The list price of the cruise when you purchased it 2. The loan payment 3. The total payment made towards the purchase 277.27
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