Question
The price of a stainless steel, freezer refrigerator is $2,858.51. To own the refrigerator, you must make beginning-of-month payments of $28.50 and one final lump-sum
The price of a stainless steel, freezer refrigerator is $2,858.51. To own the refrigerator, you must make beginning-of-month payments of $28.50 and one final lump-sum payment at the very end of the term in order to pay off the balance outstanding. The manufacturer offers a 60-month term at a rate of 7% APR. What is the buyout at the end of the term?
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
6th Edition
125991965X, 978-1259919657
