Question
Your auto insurance premium of $2500 is due today. You insurance company is giving you the easy financing option of making 12 monthly payments, with
Your auto insurance premium of $2500 is due today. You insurance company is giving you the "easy financing" option of making 12 monthly payments, with the 1st payment starting today. The interest rate on this financing option is 21.00% with monthly compounding. What's the monthly payment amount?
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Principles Of Managerial Finance Brief
Authors: Chad J. Zutter, Scott B. Smart
8th Global Edition
1292267143, 978-1292267142
