Question
The price of a stainlesssteel, freezer refrigerator is $2,722.13. To own therefrigerator, you must makebeginning-of-month payments of $29.00 and one finallump-sum payment at the very
The price of a stainlesssteel, freezer refrigerator is $2,722.13. To own therefrigerator, you must makebeginning-of-month payments of $29.00 and one finallump-sum payment at the very end of the term in order to pay off the balance outstanding. The manufacturer offers a60-month term at a rate of 5.7% APR. What is the buyout at the end of theterm?
The buyout at the end of the term is $
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
