Question
Sally buys a sofa priced at $2000. The furniture store provides installment loan for the purchase: Sally does not need to pay right away, but
Sally buys a sofa priced at $2000. The furniture store provides installment loan for the purchase: Sally does not need to pay right away, but has to pay equal amount every month for the next 4 months. If the yield to maturity of this loan is 5%, how much does Sally have to repay in each month?
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Accounting
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Volume 1, 2nd canadian Edition
176509739, 978-0176509736, 978-0176509743
