Question
You wish to buy a $9,300 dining room set. The furniture store offers you a 2-year loan with an 10 percent APR. What are the
| You wish to buy a $9,300 dining room set. The furniture store offers you a 2-year loan with an 10 percent APR. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| Payment $ ______________ | per month |
| How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| Payment $___________________ | per month |
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Contemporary Quantitative Finance
Authors: Carl Chiarella, Alexander Novikov
2010th Edition
3642034780, 978-3642034787
