Question
Stereo Inc. sells a stereo system for $200 down and monthly payments of $60 for the next 2 years. If the interest rate is 4.25%
Stereo Inc. sells a stereo system for $200 down and monthly payments of $60 for the next 2 years. If the interest rate is 4.25% per year, find:
a) The cost of the stereo.
Answer = $
b) The total amount of interest paid.
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Contemporary Financial Management
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
10th Edition
978-0324289114, 0324289111
