Question
Three purchase plans are available for a new car. Plan A: $5,000 Cash immediately Plan B: $1,500 down and 36 monthly payments of $116.25 Plan
Three purchase plans are available for a new car. Plan A: $5,000 Cash immediately Plan B: $1,500 down and 36 monthly payments of $116.25
Plan C: $1,000 down and 48 monthly payments of $120.50
If a customer expects to keep the car five years and her interest rate is 18% compounded monthly, which payment plan should she choose?
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Finance For Non Financial Managers
Authors: Pierre Bergeron
6th Edition
0176501630, 9780176501631
