Question
What price will a finance company pay to a merchant for a conditional sale contract that requires 18 monthly payments of $321 beginning in six
| What price will a finance company pay to a merchant for a conditional sale contract that requires 18 monthly payments of $321 beginning in six months? The finance company requires a rate of return of 14% compounded monthly. (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| The finance company will pay | $ |
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Foundations Of Financial Markets And Institutions
Authors: Frank J Fabozzi, Franco G Modigliani, Frank J Jones
4th Edition
0136135315, 978-0136135319
