Question
You have saved $4000 to buy a lobster boat and can budget $550 per month to repay a loan. If you use the $4000 savings
You have saved $4000 to buy a lobster boat and can budget $550 per month to repay a loan. If you use the $4000 savings for a downpayment and get a 7 year loan at 2% APR (compounded monthly) with $550 monthly payments (beginning 1 month from today), how much can you pay for the boat?
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Corporate Financial Reporting And Analysis
Authors: David Young, Jacob Cohen
3rd Edition
1118470559, 9781118470558
