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You call u is willing to take $39,000 as an initial payment. Ihe Teder s60.000 is a zero-interest loan to be paid back in equal
You call u is willing to take $39,000 as an initial payment. Ihe Teder s60.000 is a "zero-interest loan" to be paid back in equal install ments over 36 months. Alternatively, your local bank is willing to give you a car loan at an ann interest rate of 1 0%, compounded monthly (that is, I 0%/12 per month). ual Decide how to finance the car: Bank loan or zero-interest loan with the dealer, or cash payment. 13. (FV calculation with stated rate) You plan to put $1,000 in a savings plan and ave it there for 5 years. You can choose between various alternatives. How much will you have in 5 years under each alternative? a. Bellon Bank is offering 12% stated annual interest rate, compounded once a year. WNC Bank is offering 1 1% stated annual interest rate, compounded twice a year b
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