Question
Some laboratory equipment sells for $75,000. The manufacturer offers financing at 8% with annual payments for 4 years for up to $50,000 of the cost.
Some laboratory equipment sells for $75,000. The manufacturer offers financing at 8% with annual payments for 4 years for up to $50,000 of the cost. The salesman is willing to cut the price by 10% if you pay cash. What is the interest rate you would pay by financing? Use Excel financial functions
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Mathematics Of Finance
Authors: Robert Brown, Steve Kopp, Petr Zima
8th Edition
0070876460, 978-0070876460
