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You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and
You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Pay $550 per month for 30 months and an additional $10,000 at the end of 30 months. The dealer is charging an annual interest rate of 24%. Make a one-time payment of $17,839, due when you purchase the car.
You have decided to buy a used car. The dealer has offered you two options (FV of $1, PV of S1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) a. Pay $550 per month for 30 months and an additional $10,000 at the end of 30 months. The dealer is charging an annual interest rate of 24%. b. Make a one-time payment of $17,839, due when you purchase the car. 1-a. Determine how much cash the dealer would charge in option (a) (Round your final answer to nearest whole dollar.)Step by Step Solution
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