Question
You have just bought a new flat-screen TV for $3,000, and the store you bought it from offers to let you finance the entire purchase
You have just bought a new flat-screen TV for $3,000, and the store you bought it from offers to let you finance the entire purchase at an annual rate of 14 percent compounded monthly. If you take the financing and make monthly payment of $100, how long will it take to pay the loan off? How much will you pay in interest over the life of the loan?
How would you calculate this using a BA II plus calculator?
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The Evolution Of Nordic Finance
Authors: Steffen Elkiær Andersen
2011th Edition
0230241557, 978-0230241558
