Question
You plan on getting an iPhone Max XS today. Problem #2a: The cost of the phone is $299 + tax, which is a total of
You plan on getting an iPhone Max XS today.
Problem #2a: The cost of the phone is $299 + tax, which is a total of $350 today. However, that is the price if you sign a 2-year contract. The price of the service is $110 per month (starting 1 month from today). If the current interest rate is 2.4% with monthly compounding, what is the total cost of the phone in today's dollars?
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Practical Financial Management
Authors: William R. Lasher
6th Edition
1439080496, 978-1439080498
