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you work for a truck dealership. The notmal selling price of a truck is $4,000 when paid in full in cash. Just for today, you
you work for a truck dealership. The notmal selling price of a truck is $4,000 when paid in full in cash. Just for today, you are planning to run a zero interest financif sale during which you will allow the customer to make 24 equal monthly payments, interest free, beginning a month from today. During the 0% interest sale, you will change the sticker price of the item. Your cosy of capital
is 24% APR (compounded monthly). During the 0% sale, what would the sticker price have to be in order for you to recieve the quivalent of your normal selling price?
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