Question
Your favorite cousin bought a brand new couch during the holidays and decided to finance the purchase for $2,800. She signed a contract for a
Your favorite cousin bought a brand new couch during the holidays and decided to finance the purchase for $2,800. She signed a contract for a 2 year loan, which compounds daily at 24.9%. What is the total amount of interest that your cousin can expect to pay for the sofa over the life of the loan?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
